| is all about visually representing what's going on in the markets. Here's a sobering visual representation for you:

Daily NYSE High-Low Line:

Weekly NYSE High-Low Line:

You can view these two charts anytime at$NYHL

The $NYHL index a market breadth indicator that is calculated at the end of each day by taking the number of stocks making New 52-week Highs on the NYSE and subtracting the number of stocks making New 52-week Lows. Those values are then plotted cumulatively to create the NYSE High-Low Line that you see above.

Because it is a cumulative plot, the actual value of each point on the chart is unimportant. (In fact, they will change if you adjust the starting date of the chart.) What is important is the shape of the line - up is healthy, down is sick.

Get the picture? We're sick. We've been sick awhile. We will probably be sick for a while longer. For long-term ChartWatchers, there's not much point in hopping back into the market until these lines start going up again.

-- Chip

Chip Anderson
About the author: is the founder and president of He founded the company after working as a Windows developer and corporate consultant at Microsoft from 1987 to 1997. Since 1999, Chip has guided the growth and development of into a trusted financial enterprise and highly-valued resource in the industry. In this blog, Chip shares his tips and tricks on how to maximize the tools and resources available at, and provides updates about new features or additions to the site. Learn More
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