Don't Ignore This Chart!

Cumulative Net New Highs flatten out

From the breadth charts page, users can get a glimpse of the AD Lines and cumulative Net New Highs lines for the NYSE, Nasdaq and Amex. The image below shows the cumulative Net New Highs lines for the NYSE and Nasdaq. Both flatted over the last two weeks, but have yet to turn down. This shows a standoff between new 52-week highs and new 52-week lows. A downturn in these lines would reflect an uptick in new 52-week lows.

Click this image 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
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus