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Thursday, September 08, 2016 10:50:52 AM
An Impressive Parade of New Highs by ART HILL
I assume that a stock or ETF is in a clear uptrend when making a 52-week closing high. Moreover, anything hitting a 52-week high shows some serious chart strength and should be considered a leader. We can argue about short-term momentum and overbought conditions, but 52-week highs are unequivocally bullish for the long-term trend. The lists below shows the parade of ETFs recording 52-week highs on a closing basis over the last five days:
Major index ETFs:
Nasdaq 100 ETF (QQQ)
Russell 2000 iShares (IWM)
Russell MicroCap iShares (IWC)
S&P MidCap SPDR (MDY)
S&P SmallCap iShares (IJR)
Large-caps, small-caps, mid-caps and microcaps are the clear leaders here. This is impressive.
I assume that a stock or ETF is in a clear uptrend when making a 52-week closing high. Moreover, anything hitting a 52-week high shows some serious chart strength and should be considered a leader. We can argue about short-term momentum and overbought conditions, but 52-week highs are unequivocally bullish for the long-term trend. The lists below shows the parade of ETFs recording 52-week highs on a closing basis over the last five days:
Major index ETFs:
Nasdaq 100 ETF (QQQ)
Russell 2000 iShares (IWM)
Russell MicroCap iShares (IWC)
S&P MidCap SPDR (MDY)
S&P SmallCap iShares (IJR)
Large-caps, small-caps, mid-caps and microcaps are the clear leaders here. This is impressive.
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