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I'm looking at 52-week highs data today.
Only 186 of the S&P 500's 505 members (37%) has reached a 52-week high from 3/23 until yesterday.
44 of those names that HAVE reached 52-week highs are info tech stocks. 36 are health care, 29 are industrials.
That's a little more than half of all 52-week highs.
That's a little more than half of all 52-week highs.
That 186 count seems...low, especially considering the S&P 500 has made nine 52-week highs over that time period, and has climbed as much as 6% above the Feb. 19 closing high.
In the nine 52-week highs we saw from 3/23 to 9/1, less than 10% of all S&P 500 members closed at 52-week highs each day.
(about 18% of members closed at 52-week highs on 9/2)
(about 18% of members closed at 52-week highs on 9/2)
That's also historically low, not just low according to my eyeballs.
From the beginning of 1990 to 8/17/2020, only 34% of 52-week $SPX highs happened when less than 10% of its members closed at 52-week highs.
From the beginning of 1990 to 8/17/2020, only 34% of 52-week $SPX highs happened when less than 10% of its members closed at 52-week highs.
IDK.
Breadth, or looking at how many stocks are keeping pace with the market, is kind of like beating a dead horse these days.
Still worth watching, though.
Breadth, or looking at how many stocks are keeping pace with the market, is kind of like beating a dead horse these days.
Still worth watching, though.
