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Strategies & Market Trends : The Stock Market Bubble

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To: R Stevens who wrote (803)	7/24/1998 12:57:00 PM
From: R Stevens	Read Replies (1) of 3339

So much for today not looking as bad as the last couple of days. I read on another thread that we may have just seen a market top. That would be interesting since everybody was calling the top last April, but no one is really saying much here in late July. I noticed today as I was reviewing this great highs/lows chart that there is a big divergence between the market hitting a new high, and the "new highs" level in green not beating the levels of the April market peak. Same thing when you compare the April peak vs. the peak last September. The market has kept going higher but the number of stocks reaching new highs at the peaks is getting smaller with each market high. (note in the bottom half of the chart is a graph of the NYSE index) Highs/Lows Chart: decisionpoint.com Any comments on this phenomenon?

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