In bull markets you regularly see more and more stocks making new highs.
That’s just a normal characteristic of this type of market environment.
Yesterday we saw a ton of stocks making new 52-week highs – names like Nvidia, AstraZeneca, Salesforce, Lockheed Martin, General Electric, Chipotle, Autozone, Motorola, Lennar and many others.
However, in aggregate we have yet to see that key breakout in breadth expansion in the new 52-week highs list.
The new lows list is non existent. It’s been that way since the 4th quarter last year.
But where the new highs at? [Read more…]