A video piece on the Yahoo finance site points out to a rather disarming fact about the nature of the current stock market boom.
A video piece on the Yahoo finance site points out to a rather disarming fact about the nature of the current stock market boom. The record high levels are being supported by fewer and fewer stocks. The one-month daily average of stocks hitting 52-week highs is currently about 26. One year ago, that number was about 101. That is, then 1 out 5 stocks in the S&P 500 was hitting highs to just 1out of every 19 today. “If you look at the breadth, we've seen a pretty amazing amount of deterioration just since last May," said Mark Newton, chief technical analyst at Greywolf Execution Partners. "It's dramatically down from what we've seen over the last year. And, that is a concern."
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