NYSE New Highs Confirm Price Action

12/29/2009 9:31 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart
Click to Enlarge

The number of stocks making new highs on the NYSE had not risen above the October peak of 433 until Monday, when it hit 466. This is a healthy sign for the overall market even though volume is low. This, combined with the strong action of the A/D line, does favor a stronger rally, but we may have to wait until the new year for that to materialize.

Related Articles on STOCKS

Keyword Image
Intel: In the Chips?
18 hours ago

Quarterly results at Intel (INTC) topped expectations by a wide margin, in part because of strength ...