Red Flag from the Stalling Number of New Highs?
Recently, we pointed out that the daily New Highs on the New York Stock exchange were not behaving in a fashion that suggested a healthy rise in the market.
We commented that healthy rallies had buyers chasing stocks and bidding them up higher ... which in turn pushed the number of stocks reaching New Highs up higher in a trending fashion.
Take a look at the New Highs below. There is NO up trend going on, which is a red flag to be concerned about.