Wednesday, September 16, 2009

New Highs...

354 new 52 highs today. Nearest similar new high reading was Oct 11, 2007 - that also appeared to be the all time high on the S&P. I can't see any edge from this. If anything, the fact that we new highs are expanding as the market moves higher can be viewed as a positive for bulls. When we starting hitting around 500, that would be extreme and probably a warning that we are nearing a decent top.


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