Internal Strength A Positive Sign For S&P500

Strategas Research Partners notes that yesterday 32% of the S&P500 hit 65-day highs, which is the best internal strength reading since December, see below.

Typically a reading over 30% of stocks hitting 65-day highs is a good indicator of future market strength. The charts below show the forward returns (top) and percentage of positive returns (bottom).

Comments