The underlying improvement in the market statistics has finally taken hold. The breadth of the market has broadened out, providing us with the longest string of positive days we've seen since the last week of October into the first week of November. This is good news for the market.
Another positive for the market is that the number of stocks at new highs has been holding steady, despite the fact that the
was down all week last week. In addition, momentum is still on the upside, as we don't expect the market to get overbought until later this week.
New Highs and New Lows
Cumulative Advance/Decline Line
Helene Meisler, based in Singapore, writes a technical analysis column on the U.S. equity markets on Tuesdays and Fridays, and updates her charts daily on TheStreet.com. Meisler trained at several Wall Street firms, including Goldman Sachs and Cowen, and has worked with the equity trading department at Cargill. At time of publication, she held no positions in the stocks mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. She appreciates your feedback at