The market continues to climb, and breadth continues to expand.
Tonight we’ll examine the very bottom pane, which is a simple measure of new 52 week highs and lows.
This measure is calculated from a broad universe of stocks. The only stocks that are excluded from this universe are OTCBB. There is no price, volume, or liquidity requirement. Tonight we see that 1,048 stocks made a new 52 week high, while 73 made a new 52 week low.
The buy signal on this measure of breadth is generated on the first close where there are more new lows than new highs. Obviously, we are a long way from a buy signal right now..
————————————————————————————–
We almost have a sell signal generated today from yesterday’s raw advancers/decliners buy signal. If tomorrow closes up, the position will be sold at the close.
Overall, there are no apparent negative divergences in tonight’s report. Breadth continues to expand while price climbs.
