NYHL New Highs-New Lows Daily Chart Diverging with Broad Market Price Indicating Significant Market Top

Uber low readings which represent very few new highs and a high number of new lows (green circle) typically call market bottoms and did so in October. Uber high readings which represent very few new lows and a high number of new highs (red circles) typically call market tops. Note the divergence for the last two months where the broad markets continue to make new price highs but the NYHL chart above shows a steadily decreasing number of new highs occurring. If markets are strong, the new highs will increase as the broad markets increase, this is not happening now. The early March number is important since that marked the first divergence, typically a market top occurs in short order, although watching this rolling top form and potentially finish is like waiting for Godot. Projection is a market sell off to occur to satisfy the divergence.This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.