SPX:Contribution Continues to Deteriorate, Reaches a Danger Zone
The number of Stocks contributing to new highs continues to deteriorate.
This is the percentage of stocks on the New York stock exchange making new highs divided by the whole spx. The breadth shows that the bull market continues to be driven by fewer and fewer stocks, as the spx breaks to new highs however fewer and fewer stocks on the NYSE making new highs, driving the ratio down, especially within the recent months.
This is not something new, and i believe this ratio should be taken into consideration only in an aging bull market.
Best of luck. Join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
Google Plus : plus.google.com/+Thefxchannel0/posts
My Best Regards,
Technician
This is the percentage of stocks on the New York stock exchange making new highs divided by the whole spx. The breadth shows that the bull market continues to be driven by fewer and fewer stocks, as the spx breaks to new highs however fewer and fewer stocks on the NYSE making new highs, driving the ratio down, especially within the recent months.
This is not something new, and i believe this ratio should be taken into consideration only in an aging bull market.
Best of luck. Join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
Google Plus : plus.google.com/+Thefxchannel0/posts
My Best Regards,
Technician
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