Interesting question isn't it? If you watch the daily count of New York Stock
Exchange "New Highs" some very interesting historical information appears.
For example ... below is a two and a half year chart of the New Highs compared
to how the S&P 500 trended during that time.
1. So, what level of New Highs is associated with corrections? The answer
is 50 or below.
2.What level is favorable for an up move? The answer is above 50 and below
100.
3. What level is associated with strong rally moves? The answer is 100 and
above.
So, the only question we didn't ask yet is: What level was the New Highs at
yesterday?
And, the answer is: It closed at 58 yesterday. (Today's chart is posted every
day on our paid subscriber site.)
Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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