---
title: "LIVE MARKETS-Nasdaq breadth measure takes on water - Can bulls bail it out?"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278890312.md"
datetime: "2026-03-12T13:04:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278890312.md)
  - [en](https://longbridge.com/en/news/278890312.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278890312.md)
---

# LIVE MARKETS-Nasdaq breadth measure takes on water - Can bulls bail it out?

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### NASDAQ BREADTH MEASURE TAKES ON WATER - CAN BULLS BAIL IT OUT?

The Nasdaq Composite (.IXIC) rose marginally on Wednesday. Of note, the tech-laden index’s last record close was on October 29, 2025, or 90 trading days ago. With Wednesday’s gain, the Composite ended at 22,716.135, putting it down 5.2% from its 23,958.473 record close, and down 5.4% from its 24,019.993 October 29, 2025, record intraday high.

Meanwhile, one measure of the Nasdaq’s internal strength, the Nasdaq New High/New Low (NH/NL) Index, continues to sink. A sharp thrust higher in this measure may signal that bulls are back at the helm.

The NH/NL index put in a peak at 83.4% on September 23 of last year. It then diverged into the Composite’s late-October record highs.

After plunging to a November 24 low of 29.7%, which was just two trading days after the IXIC’s November 20 trough, this measure then put in a secondary high at 76.4% on January 16.

However, it’s been pretty much taking on water ever since.

The NH/NL index ended Wednesday at 37.9%, which has it nearing its November 2025 and January 2026 troughs in the 29.7% to 35% area.

Bulls will now want to see the NH/NL index put in a V-bottom and reclaim its descending 10-day moving average (DMA), which ended Wednesday at just over 45%. In the event the NH/NL index breaks its November trough, the Nasdaq Composite may find itself in even rougher seas.

The April 2025 NH/NL index low was sub-10%.

(Terence Gabriel)

### EARLIER ON LIVE MARKETS:

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NasdaqNewHighNewLowIndex03122026

(Terence Gabriel is a Reuters market analyst. The views expressed are his own)

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