Is this Bull past its prime?
This is a 2-day chart of T2117, it covers stocks traded on the NYSE and calculates new highs for the last 52 weeks, then divides by new highs & new lows. I've added a 50 SMA to show the direction this indicator is headed. With the 50 SMA we can see a divergence because prices are currently at the same levels as last April yet this indicator is clearly not. We can also see that since the April peak, volatility has been creeping back in, and this is something I wouldn't want to see in a true Bull market. Take it for what it is, this is a long-term view, so don't let this prevent you from making money now, should a good opportunity arise.
Take care...Jason
