Today's chart show's the raw daily data on the NYSE's daily New Highs. On this chart, a minimum of 100 is a very important level in a rally. 150 is what I want to see. (50 is neutral.)

After looking at the "A" shape resistance lines, two things can be observed on today's chart:

1. That the New Highs were at a healthy 227 yesterday. Above 150, the positive traction is high and a market positive for any rally.

2. The second observation, is that New Highs had a peak level on November 5th. And since then, the trend has been moving down. Unless this trend changes, it will eventually bring the level of New Highs down below 100, and possibly below 50.

Why are those numbers important? Because we want to see New Highs above 100 for a healthy rally, and below 50 is a problem level typically associated with pullbacks or market corrections.

So, the declining trend has been a slow descent, but its message is that it wouldn't hurt to put the NYSE New Highs on your radar screen during the coming weeks.

(FYI: Today's chart is posted and updated every day on our Standard subscriber site and can be found on Section 4, Chart number 4.)

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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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