Where the new highs at?
You're seeing a similar story in the both the S&P500 and Nasdaq100.
New highs stand up!
This is mathematically what comes next, if this is in fact, an ongoing bull market in stocks.
There's little evidence that stocks are in a bear market.
Think about it like this:
Over the past 10 months have the majority of stocks been going up in price? Or have the majority of stocks been going down in price?
The answer is up.
So we know that stocks have been in a bull market for almost a year now, it's just math.
THE QUESTION is whether stocks continue higher or if they, all of a sudden, randomly, turn around and begin to fall in price?
The new highs and new lows lists are helpful in this regard.
And since most stocks are so far from new 52-week lows, we'll be keeping a close eye on the 1-mo, 3-mo and 6-mo lows lists.
If we start to see those picking up, I would expect the indexes to follow.
But a major jump in the new 52-week highs list, as shown above, would be the logical next step if this is, in fact, an ongoing bull market.
What do you think?
We love to hear from you.
JC
Mid-Month Conference Call: We ripped through 168 slides in 68 minutes on Monday night, which has to be some sort of chart-speed record. We're also extremely efficient. Everything you need to know about this market right now is right here.