New Highs Keep Piling Up
November 28, 2020
I see consolidations within ongoing uptrends resolving higher. What do you see?
When you break these down to more specific industry groups, we saw new all-time highs across the board this week.
We're not seeing breadth deterioration.
Small-caps, Transports and Emerging Markets are no longer the laggards. They've been leadership groups for months.
Are you noticing the rotation taking place? Not just among sectors, but also at the market cap level?
Anyway, the S&P500 just went out at an all-time weekly closing high. So did the NYSE Stocks-Only Advance/Decline line.
What's got you bearish?
JC