One of the indicators we monitor is the level of New Highs on the New York Stock Exchange. We analyze the New Highs on short term and long term models.

The long term analysis is a "trending" analysis of the improvement or deterioration of stocks on the New York Stock Exchange. Our long term New Highs trending chart is below.

During strong Bull markets, this long term trending indicator reaches levels over 150. When bullishness worth paying attention starts to develop, the indicator reaches 50 and moves up from there.

So, as of the close yesterday, where were we?

Yesterday, we were not at the 50 level, in fact, we were only at 34.7. That is not necessarily a negative, because of the change in the trend since last September. The indicator dropped sharply since last September and it has remained well below 50 since then.

However, something started to happen in May. Towards the end of May, the indicator started to move up. It made a higher/high followed by a higher/low. It then made another higher/high and higher/low. That is the definition of an up trend.

Yesterday, it made another higher/high, so although we are not at a level of 50 yet, we are seeing strong trending that is taking us closer and closer.

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By Marty Chenard
http://www.stocktiming.com/

Please Note: We do not issue Buy or Sell timing recommendations on these Free daily update pages . I hope you understand, that in fairness, our Buy/Sell recommendations and advanced market Models are only available to our paid subscribers on a password required basis. Membership information

Marty Chenard is the Author and Teacher of two Seminar Courses on "Advanced Technical Analysis Investing", Mr. Chenard has been investing for over 30 years. In 2001 when the NASDAQ dropped 24.5%, his personal investment performance for the year was a gain of 57.428%. He is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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