Link: Early Signs of Market Strength?

Aug 7, 2007: 9:02 PM CST

Dr. Steenbarger at Trader Feed gives us something to consider in his recent post: Stocks Making New Highs: Early Sign of Market Strength?

Dr. Brett provides a graphic to further his analysis and notes the relationship between the number of stocks in a selected, weighted basket making new 10-day highs or lows with the S&P 500 index.

His summary statement is worth additional analysis:

When you see stocks from different sectors closing at fresh highs and fewer closing at new lows on a day where you’ve made new lows in the overall index, it makes you wonder about how much steam the decline has left.

Furthermore, he provides various trade candidates (stocks) to view for further analysis.

Could this be the beginning of a new wave higher? Read his post and do your homework to find out!

Comments Off on Link: Early Signs of Market Strength?

Comments are closed.