• 764 days Will The ECB Continue To Hike Rates?
  • 765 days Forbes: Aramco Remains Largest Company In The Middle East
  • 766 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,166 days Could Crypto Overtake Traditional Investment?
  • 1,171 days Americans Still Quitting Jobs At Record Pace
  • 1,173 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,176 days Is The Dollar Too Strong?
  • 1,176 days Big Tech Disappoints Investors on Earnings Calls
  • 1,177 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,179 days China Is Quietly Trying To Distance Itself From Russia
  • 1,179 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,183 days Crypto Investors Won Big In 2021
  • 1,183 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,184 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,186 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,187 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,190 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,191 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,191 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,193 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

What is the Decline on the NYSE's New Highs Trying to Say?

Today's chart show's the raw daily data on the NYSE's daily New Highs. On this chart, a minimum of 100 is a very important level in a rally. 150 is what I want to see. (50 is neutral.)

After looking at the "A" shape resistance lines, two things can be observed on today's chart:

1. That the New Highs were at a healthy 227 yesterday. Above 150, the positive traction is high and a market positive for any rally.

2. The second observation, is that New Highs had a peak level on November 5th. And since then, the trend has been moving down. Unless this trend changes, it will eventually bring the level of New Highs down below 100, and possibly below 50.

Why are those numbers important? Because we want to see New Highs above 100 for a healthy rally, and below 50 is a problem level typically associated with pullbacks or market corrections.

So, the declining trend has been a slow descent, but its message is that it wouldn't hurt to put the NYSE New Highs on your radar screen during the coming weeks.

(FYI: Today's chart is posted and updated every day on our Standard subscriber site and can be found on Section 4, Chart number 4.)

New Highs

 

Back to homepage

Leave a comment

Leave a comment