Not every index and not every sector recorded a new high this week, but several key indexes recorded new highs and the majority of sectors hit new highs. This shows broad market strength that validates the long-term uptrend in stocks. The only negative is that stocks are short-term overbought after big moves. This negative, however, is actually a positive because it takes strong buying pressure to become overbought. On a closing basis, the Dow Industrials, the S&P 500, the Nasdaq 100 and the Dow Transports recorded new 52-week highs this week.