New 52 Week Highs

Score: –6 Thursday’s price action left the 52 week new high feeling bearish.  That is two days now of lower breadth as the market corrects from Tuesday thrust. Video: How to interpret 52 Week New Highs Follow me on twitter: @RedLionTrader
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Score: +6   Turn around Tuesday turned around our 52 WNHs from bearish scores yesterday  to bullish scores today. A strong follow through day will be needed today to keep the momentum going. Video: How to interpret 52 Week New Highs Follow me on twitter: @RedLionTrader
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Score: -6  Perfect bear score for the 52 WNHs.  The next four days should bring similar scores. Video: How to interpret 52 Week New Highs Follow me on twitter: @RedLionTrader
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Score: +6   On Wednesday the 52 WNHs for all three indexes put in a bull score.  Yesterday we talked about a new two day cycle starting for the bulls and they took advantage of the opportunity.  Despite not putting in higher prices the 52 week new highs climb.. That now becomes a bullish...
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Score: –4   52 WNHs for the NYSE and Nasdaq put in bearish scores.  The Rut had a decent day today.  The cycle is for a difficult day tomorrow and then we enter an easier 5 day cycle for the bulls.   Video: How to interpret 52 Week New Highs Follow me on twitter:...
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Score: +4  Despite being at or near new highs on the indexes the number of 52 week new highs has not set a higher momentum bar than 4 days ago, making Monday a critical day to erase the developed bearish divergence.   On Friday the NYSE could not push up its momentum line and...
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Score: +6   Monday’s strong market action put the 52 week new highs in full bull mode.  The NYSE will need a repeat performance tomorrow to keep from turning bearish while the Nasdaq and Rut only have to put in half the count tomorrow to be at least neutral.    Video: How to interpret...
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Score: -2   As with the 10 DHL the 52 WNHs were neutral except for the weakness in the NYSE.  Tomorrow will be clarification on whether the NYSE is leading or following here. Video: How to interpret 52 Week New Highs Follow me on twitter: @RedLionTrader
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Score: +3  While the markets seemed really bullish the problem for the breadth indicators is that 5 days ago the market was even more bullish, so despite the new high price action the markets we are not matching it with breadth.  That is a little disconcerting but price rules.   The cycle gets a...
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Score: +0   Tuesday’s profit taking put the new highs from their perfect bear score column setting into the neutral camp as we wait to see which way the market will follow through.   Prints higher than today’s close should give us another day of allowed weakness for the bulls after such a strong thrust...
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