Weekly New Highs and New Lows
This indicator is made up of two (2) components. The number of stocks that have made new highs for the week and the number of stocks that have made new lows for the week.
You can find this information in the Barron's Weekly Business magazine under the 'Market Laboratory' page in the Weekly Composite Diary section.
What you want to look for in determining turning points in the market are:
- NEW HIGHS exceeding 500 per week.
- When this condition occurs it means that the market rally is topping and weakness in the market should follow shortly.
- NEW LOWS exceeding 400-500 per week. .
- When this condition occurs it means that we should be seeing a market bottom and that the market should soon be moving upward.
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