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Pay Attention To
Market Breadth This Week
January 31st, 2012
The following (green highlights) is a brief
excerpt and one of the four charts that appeared in our Friday January
27th report entitled, The Week Ahead: 4
Charts To Watch For US Stocks.
Asbury Research subscribers can access the entire
report by logging into our Research Center via
the button at the the upper right corner of this screen.
The
Week Ahead: 4 Charts To Watch For US Stocks
Posted on: Friday, January
27th, 2012
Chart
3: Market Breadth
This chart displays the S&P 500
(SPX) daily since 2011 in the upper panel with the 26-Week New
Highs/New Lows Ratio plotted in the lower panel (blue
line). This measure of market breadth is derived by dividing the
new highs in the NYSE Composite Index for the last 26 weeks by the new
highs plus new lows.
S&P 500 & 26 Week New High/New Low
Ratio
The red highlights on the chart show that this indicator is currently
hovering at an historically high extreme of 90%, indicating an
extreme number of new 6-month highs being made relative to the number of
new highs plus new lows, which has previously either coincided with
or closely led most every near term peak in SPX during the past
year.
continued…
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Phone:
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Email:
info@asburyresearch.com
IM: asburyresearch
Web: www.asburyresearch.com
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