Question 71—New High-New Low Index
Find the incorrect statement about the New High-New Low Index:
1. NH-NL confirms uptrends by reaching new highs; it confirms downtrends by falling to new lows.
2. The signals of NH-NL are symmetrical at tops and bottoms.
3. Bearish divergences of NH-NL warn of impending market tops.
4. Downspikes of NH-NL often identify important market bottoms.
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