Big-Cap New Highs

It was a choppy week in the markets, and today all major US indexes finished in the red. For the large-cap indexes, however, there were still a good amount of new 52-week highs, most notably in the S&P 100 Index.

$NDX - The tech-heavy Nasdaq-100 Index finished the day with 9 new highs. Since January 22nd, there has been a trend of fewer new highs in this index.

$OEX - The S&P 100 Index, made up of the largest 100 companies in the S&P 500 finished the day with 14 new highs. That is the third consecutive day with more new highs for this index.

$SPX - The S&P 500 Index, needs no introduction. Today there were 63 new highs in the most followed stock market index in the world.

Mid & Small-Cap New Highs

The two other US indexes that make up the next 1,000 smaller companies in the market, the S&P Mid-Cap 400 and the & S&P Small-Cap 600 together posted 78 new 52-week highs today.

$MID - The S&P 400 Mid-Cap Index, made up of the largest 400 companies that come after the top 500 in the S&P 500 Index, finished the day with 41 new highs - more than 10% of the index.

$SML - The S&P 600 Small-Cap Index, made up of the next biggest 600 companies after the Mid-Cap 400 Index, finished the day with 37 new 52-week highs.

The New Highs list for each index is something I follow every day. It helps provide valuable information as to which areas of the market are seeing the most strength at any given time.

During inflection points, when index leadership can begin to change, the new high lists can also help point us in the right direction.

I’ll be sharing the New Highs for each index regularly, be sure to subscribe and follow along.

Thank you!

Brian Bond, CMT