Helene Meisler
For information about interpreting these indicators, please see Helene's chart descriptions.
March 17
In response to several emails I've received on the new highs and new lows charts, perhaps a further explanation is warranted. We should not be comparing the number of new highs to the market of a few weeks ago. The market was not in a rally mode then. Instead we should compare the number of stocks at new highs on this rally vs. the last big rally peak. In this case, we should compare the strength of this rally to the early January highs in the averages. And currently, with the Dow about 300 points higher than in January, there are less than half as many stocks making new highs. As for new lows, about four times as many stocks are making new lows now vs. the highs in January. It is not a good sign when a market is at its highs and the number of new lows is up around 70 or 80. At this juncture, that reading should be closer to 10 or 20. In simple terms, investors may be making money, but not as much as in January, and it's more likely they are underperforming in this current surge.New Highs and New Lows
Overbought/Oversold Oscillator
Cumulative Advance/Decline Line
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