NYSE New Highs Confirm Price Action

12/29/2009 9:31 am EST


Thomas Aspray

, Professional Trader & Analyst

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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.

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