Today Nasdaq 100 hit another all-time high. Another index, S&P 500, is jut 2 points below its all-time high. It looks fine for the bulls.
But the market internals deteriorated once again. This time this deterioration is especially impressive.
Well, it is nothing strange that less and less companies hit their 52-week highs (I had written about it many, many times). What is strange is that today, while Nasdaq 100 was very busy with making its record, actually more stocks hit their new 52-week lows than highs. It is not a common thing when index makes new high. I would say - it is very uncommon.
Please look at the table below: