Yesterday, the rise in the number of New Highs on the New York Stock Exchange reflected an increasing appetite for stocks and buying by investors.
Although we monitor and post nearly 3 dozen charts on our paid site every day, there are 9 specific charts that measure the "underlying fundamental" conditions of the market, and the number of New Daily Highs is one of them.
Each of those 9 charts/indicators have an associated Red/Yellow/Green daily rating showing their individual conditions.
At the close yesterday, the New Highs Indicator received a "Green Condition" rating because it closed at 297. On today's chart (seen below), a minimum of 100 is a very important level in a rally. 150 is what I want to see, so 297 is a strong reading.
