In bull markets we see more stocks making new highs than new lows.
I know that probably sounds like common sense, but you’d be surprised….
It’s really just basic math. You need more stocks going up and making new highs, than stocks going down and making new lows.
And although we did see a couple of days of more new highs than new lows recently, we haven’t seen that for a sustained period, yet.
In fact, we’re going on 20 straight weeks of more new lows than new highs. [Read more…]