Sunday, July 15, 2018

US Stocks - Is It A Healthy Bull Market?

Although NASDAQ is making new historical highs, the market internals do not support these tops. Look at the chart below:


The lower panel of the chart shows the amount of stocks establishing new 52-week highs. Note that despite the index making new all-time highs (the blue arrrow on the upper panel of the chart), the amount of stocks doing the same is rapidly going down (the red arrow).

Well, it is not a typical pattern printed by a healthy bull market...

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