The stock market had a solid washout on Thursday, unlike Monday when growth got hit and value did okay. Net advances versus decliners yesterday totaled -2,468, the worst since 10/28, when it hit -2,566. Looking at prior washout days (those with at least 2,000 more decliners) and going back to May, most of the days were near (within a few days) or right at the bottom. During February and March, we obviously saw a cluster of terrible breadth days as the decline was relentless.

Sentiment, Business Activity Remain Elevated in the New Year