NYHL New Highs-New Lows Daily Chart Lower Highs

The new highs minus the new lows shows prints at lofty levels but not yet above where they were when the September market top occurred. In other words, there are now less new highs and more new lows as the current market top is placed. The indicators in September hinted that matching or higher highs were desired in the future and those highs are printing this year. The stochastics are overbot, the indicators are negatively diverged, although the MACD line has tiny bit of spunk left in it. Perhaps a couple days of action mimicking the last few days, then a larger drop which reflects far fewer highs ahead.

Note the tiny paltry negative readings at the early November market low. From a return to the mean perspective, the NYHL should simply explore lower levels to wring out all the bullish euphoria. Projection is for drop to occur in the NYHL like late September and October in concert with the broad indexes selling off. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.