T2108 and new highs getting into nose bleed territory


The Worden T2108 indicator, 75%,  is approaching levels where it often peaks. T2108 measures the percentage of NYSE stocks closing above their 40 day simple moving averages. I also counted 469 new highs on Tuesday, the most since last December 9th. That was near the beginning of a major market advance, while this time it is occurring after a year long advance. We need to stay the course and remain ever vigilant…..

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