Index New Highs and Lows [One Month]

by: Bill Zimmer Friday, March 12th, 2010 at 10:12 am

There is nothing magic about new 52 week highs, it’s just some sort of tradition.  I often like to look at a one month calculation instead. Here are charts of KBW Bank Index, AMEX Biotech, Dow Industrials, MId Cap, Russell 1000, Russell 2000, and the S&P 500. Are the new highs in general rising and the new lows generally contracting? Corrections not withstanding then that index is in a bull trend. If you click a chart it will enlarge to full size.

I will let each come to their own conclusion for each.

 

Have a Wonderful Weekend!