52 Week new highs improved on 2 of 3 indexes.. still pointing bullish

Score: +4 

Wednesday was a little backing and filling as the market consumed the previous day’s moves.  A rally into the close showed that the bulls still had some buying power.  The NYSE fell short on putting in a higher daily bar, but the Nasdaq composite and RUT  (nice about the RUT because it closed red on the day) came through with higher highs.  52 week new lows did not strengthen on the run down so all in all I would give it a bullish score on the day and expect flat to up on tomorrow’s market.

 

image

Video: How to interpret 52 Week New Highs

Follow me on twitter: @RedLionTrader

Be the first to comment on "52 Week new highs improved on 2 of 3 indexes.. still pointing bullish"

Leave a comment