Don't Ignore This Chart!

Nasdaq Net New Highs near zero

With the decline over the last few weeks, Net New Highs on the Nasdaq moved below +50. This indicator was above +200 in early January and is now flirting with negative territory. Net New Highs equals new 52-week highs less new 52-week lows.

100202nahl Click this chart for details
Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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