"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 7 hours The $85B Merger That Could Change The Media Forever
  • 8 hours Why Are Governments Creating Their Own Cryptocurrencies?
  • 9 hours How Debt Cycles Impact Gold
  • 10 hours Investors Up the Ante In $1.5B Uber Loan Deal
  • 12 hours Are Gold Miners Poised For A Breakout?
  • 13 hours Is The "Crypto Winter“ Over?
  • 15 hours China Says It Doesn’t Fear Trade War
  • 1 day Twitter CEO: The World Will Have A Single Currency
  • 1 day Asian Currency Correction Could Signal Looming Crisis
  • 1 day Best Buy Drops Telecom Giant Over National Security Threat
  • 1 day The Pros And Cons Of The Federal Interest Rate Hike
  • 1 day Good News For Gold Bulls Despite Interest Rate Hike
  • 2 days Trump Hits China With $50 Billion In Tariffs
  • 2 days Russian Gold Reserves Hit Record High Amid Rising Tensions With West
  • 2 days Stocks Pull Back Following Interest Rate Hike
  • 2 days Will Regulatory Rollbacks Make Banks 'Too Big To Fail?'
  • 2 days Elon Musk’s $2.6 Billion Tesla Challenge
  • 2 days Tech Giants Could Be First Victims Of U.S. Trade War
  • 2 days Dow Gains Despite Fed’s Rate Hike
  • 2 days The Biggest Threat To Chinese Oil Futures
Trump's Trade War Nears Boiling Point

Trump's Trade War Nears Boiling Point

Trump’s trade war appears to…

Tesla Tumbles As Investors Lose Patience

Tesla Tumbles As Investors Lose Patience

As Tesla’s Model 3 looks…

Marty Chenard

Marty Chenard

Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he…

More Info

A Squeeze on the NYSE 'New Highs'?

Conditions are getting close to a decision point on the New York Stock Exchange's daily New Highs.

On June 29th, the New Highs had hit a low and started an ascent that lasted until August 2nd. when they peaked and started trending down.

It has been a steady down trend, but not a big problem until now. As the New Highs move down, they are approaching a place where a "squeeze" will occur. When that happens, the New Highs will need to start a new up trend or there will be trouble.

Where is the squeeze level? As the New Highs move down, maintaining the daily 100 level is a very important level to maintain for a rally. Historically, below 100 is a high risk level, and below 50 is a real negative level.

Yesterday, the New Highs closed at 141 with a down sloping resistance line. The resistance for today is 151, so it is 1 point away from a level where a serious deterioration could start occurring. By next Tuesday, the down sloping resistance will be at 93 and that is a problem level. To not deteriorate further, you now want to see the resistance broken to the upside with the New Highs increasing. As stated, the resistance level is 151 for today.

(This chart is posted every day in Section 4, Chart 4 on our paid subscriber site.)

NYSE New Highs


Back to homepage

Leave a comment

Leave a comment

Sign Up For The Safehaven Newsletter