Sunday, March 20, 2016

Strength broadens in the NYSE

Something from the Stockcharts Chartwatchers newsletter that I thought I would share with you.
NYSE New Highs ($NYHGH) exceeded 250 for the first time since March 2015. This means the rally is broadening within the NYSE as more stocks record new highs. Utilities, consumer staples, industrials and REITs accounted for most of the new highs.
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We are also seeing the percentage of NYSE stocks trading above their 200-day moving average moving up to challenge the fourth quarter high around 40% after bottoming in January in oversold territory below 20%.

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