SPX:Contribution Continues to Deteriorate, Reaches a Danger Zone

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The number of Stocks contributing to new highs continues to deteriorate.
This is the percentage of stocks on the New York stock exchange making new highs divided by the whole spx             . The breadth shows that the bull market continues to be driven by fewer and fewer stocks, as the spx             breaks to new highs however fewer and fewer stocks on the NYSE making new highs, driving the ratio down, especially within the recent months.

This is not something new, and i believe this ratio should be taken into consideration only in an aging bull market.

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Excellent piece. Thx
Thanks Yacine
Looks very promising
Great post. I've been following something similar myself. I decided to use a moving of highs-lows just to smooth it out some. In the past, a breakdown in this trend has worked as an indicator of something bigger to come. Interested to see if holds true this time around.
Yes, i have seen some of your posts on this, I also used the HIGN-LOWN ratio as well, they all say the same story... But i see your using the 15-average to smooth it, great.. I am also extremely excited to see :).. The main issue with such indicators is that the divergence may extend further and further, so a trader should develop a confirmation strategy tool-set... Should be discipline enough :I
Thanks for sharing!
Ur welcome Mickette
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