Despite a few negative dips, Nasdaq 100 High-Low Percent ($NDXHLP) has been mostly positive throughout 2013. The red arrows show the brief, and shallow, dips into positive territory. Last week's dip did not last long as High-Low Percent surged to 15% this week. A downtrend is pretty much impossible until Net New Highs exceed -5%. Note that StockCharts calculates High-Low Percent for several indices and the nine sector SPDRs.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. 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.
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