The Traderszone Network

Published in TZ Latest News 5 May, 2014 by The TZ Newswire Staff

New Highs Aren’t Foreshadowing Much Of Anything Yet

Sometimes the combined new highs tally — NYSE highs plus Nasdaq highs — appears to foreshadow a market turn. Look at the last three follow-through days: In the four sessions before the July 11 follow-through day, combined new highs hit 512, 641, 578 and 428. In the four sessions before the Oct. 16 follow-through day, the tally was 198, 333, 386 and 299. In both cases, they were up sharply from previous levels. This doesn’t always work.

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