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NYSE High/Low Logic Index

Jul 05 2019

Breadth: Is It Different This Time?

  • Jul 5, 2019

The granddaddy of all technical indicators—the NYSE Daily Advance/Decline Line—continues to make new highs alongside the S&P 500, suggesting the market should move to even higher (but perhaps narrower) highs well into the fall. As noted a month ago, we increasingly suspect that granddaddy may be telling a lie.

Feb 07 2019

Are New Lows The Key To New Highs?

  • Feb 7, 2019

Last year’s market decline was one of the largest to have occurred without a lengthy-preceding period in which breadth narrowed and Small Caps significantly underperformed.

Aug 24 2018

Why So Many Lows Near A New High?

  • Aug 24, 2018

The S&P 500 has closed within a half percent of an all-time high three times this week, and the S&P 1500 Composite did make such a high on Tuesday, August 21st...

Jul 07 2018

Multiple Personality Disorder?

  • Jul 7, 2018

Market behavior is always nebulous enough to generate diverging opinions, but lately it’s been sufficiently strange to give rise to a diverging set of facts.

Feb 07 2018

Too Many Highs, Too Many Lows??

  • Feb 7, 2018

In the past few years, we’ve shared our concerns that traditional market breadth measures may have become compromised by several developments.

Aug 05 2016

Too Many New Highs To Make A High?

  • Aug 5, 2016

The number of NYSE 52-Week Highs typically peaks during the bull market’s strongest leg, before contracting into the final top. Last month, Net New Highs made a three-year high—implying more upside.

Aug 07 2015

Too Many Highs, Too Many Lows

  • Aug 7, 2015

We’ve detailed the growing degree of stock market bifurcation, but the problem for would-be bears is that such bifurcation can reach astonishing levels (witness 1999-2000) before the market is set to peak out.

Sep 10 2013

Industry Groups: No Need To Bottom-Fish

  • Sep 10, 2013

Buying global groups with strong price momentum has been a winning strategy. Will it continue?

Aug 05 2006

Weekly New High/New Low Data Not Yet Indicating A Stock Market Bottom

  • Aug 5, 2006

We meticulously comb through the lists of weekly new highs and new lows so that we exclude those derivatives and non-operating companies, in order to get a true picture of the stock market health.