$spx 52 week new highs eck out a slightly bullish score

Score: +2

 

Despite Thursday’s strange price and market action spending most of the day on the low side, the NYSE was busy quietly putting in new 52 week highs and in doing so managed to outpace both Wednesday and  the 5 day moving average.  The Nasdaq and RUT succumbed to the selling pressure but still not enough to send the momentum indicator into the other direction, so for now the 52 week new highs remain in the bullish column with a + 2 score.

 

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Video: How to interpret 52 Week New Highs

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