Chart of the Week: NYSE Making New Highs

September 8, 2005 3:12pm by Barry Ritholtz

The DOW and NASDAQ continue to make higher lows and the
NASDAQ recently held critical support recently and bounced. Couple these near
term positive factors with the NYSE Composite Index making new highs and it is
very hard to call for any severe corrections. So we still remain oscillating
back and forth from a midpoint line within a trading range.

NYSE Making New Highs
click for larger chart

Source: Redwood-Technimentals

Kevin Lane notes that “It is hard to envision a harsh
sell-off while the NYSE Composite Index is making new highs. All this recent
activity suggests to us that we may be able to challenge the upper end of the
range again.”

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dude commented on Sep 9

if you go back 5 years, we are still lower than we were then:
http://finance.yahoo.com/q/bc?s=%5EDJI&t=5y&l=on&z=m&q=l&c=

so how can we be at a new high?

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