From the desk of Steve Strazza @Sstrazza
We’ve been vocal about the strong internals supporting the rally in US Equities.
We’ve pounded the table about one historic breadth reading after the next as they’ve continued to pop up in a variety of the major indexes and sectors since early last summer.
This seemingly constant influx of extreme readings is not something we see very often… if ever.
For example, the NYSE and Nasdaq recently registered the most new highs in history on a combined basis.
The bottom line is breadth has been overwhelmingly bullish and is one of the main reasons we’re in the camp that this is likely the early innings of a new cyclical bull market.