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The total number of new
one year highs and new one year lows within an index or ETF is
calculated for the specified data period. There is a definite
tendency that one new high will be followed by subsequent new highs.
When new one year highs decline, be cautious. When they decline
after several days of new highs, a consolidation or correction may
be eminent. New highs may also mark the beginning of a price move.
The total number of
first day new
one year highs and new one year lows represents the total
number of components within the index attaining new highs or lows
for the first time (consecutive new highs or lows are not counted).
Similar statistics are
provided for the last one quarter period to provide similar
indications but with a shorter term outlook. |
