More Bull Market Behavior

New highs exceeding new lows is a win for the bulls

Key Takeaway: For the first time in 16 weeks, last week had more stocks making new highs than new lows. In bull markets of the past, NH > NL was the rule not the exception.

With weekly new highs exceeding new lows, our Bull Market Behavior Checklist continued to improve. Five out of the six indicators are now consistent with bull markets of the past.

Getting to five out of six is a big improvement in just a short amount of time. Earlier this month (when the long-term trend in the Value Line Geometric Index briefly turned lower) we are at just two out of six. Barring a big reversal, we could be at six out of six by the end of this week.

Subscribers can click here to read the entire update (or scroll down to see the summary Bull Market Behavior Checklist.