Most new 52-wk highs in over a year

JC Parets
February 4, 2023

I remember last year getting yelled at and trolled online because I was talking about breadth improvement.

Just because their stupid computers weren't telling them that it was time to buy didn't stop me and my team from simply counting how many stocks were going up vs how many were going down.

Boy did that serve us well as stocks have absolutely ripped higher over the past couple quarters.

We've been in a raging bull market while most investors keep asking me when stocks are going to bottom.

That's how far removed most people are from reality.

In fact, market breadth has improved so much that we're now seeing more stocks making new 52-week highs than we saw at the peak in the S&P500, Dow Jones Industrial Average and Nasdaq back in late 2021.

Yes, more stocks are making new highs today than there were at the "market's highs":

I put "market highs" in quotes on purpose because what even is the market?

To me, it's definitely not just a basket of US Large-cap Indexes, most of which having too much growth exposure.

It's a market of stocks at the end of the day.

We don't have to be sector racists or market-cap intolerant.

Here at allstarcharts we treat all of them equally. It's not our fault that a group of stuffy suits in New York decided not to have enough Energy or Industrials exposure in their indexes.

We make our own indexes. We create our own rules.

Why?

Because we can.

And there's no one that can stop us.

So you tell me. Do you want to trust basic arithmetic?

Or do you want to follow what the suits tell you that you need to follow?

Just because the news stations are slaves to those indexes doesn't mean you have to be.

It's a market of stocks. Never forget that.

So which ones are we buying?

What are we doing now about all this?

What's the best way to take advantage of these trends moving forward?

We’ll be discussing it all and so much more Monday night on our LIVE Conference Call for Premium Members.

Make sure to register here for that.

For any questions on registration or the event, please email me or give me a buzz here: 323-421-7991

 

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