Big-Cap New Highs

It was another choppy, but positive week in the markets this week. For the large-cap indexes, the amount of new 52-week highs expanded, most notably in the S&P 100 Index.

$NDX - The tech-heavy Nasdaq-100 Index, made up of the largest 100 tech-focused companies, closed out the week with 20 stocks making new one-year highs on Friday.

$OEX - The S&P 100 Index, made up of the largest 100 companies in the S&P 500 finished the week with an impressive 25 stocks making new one-year highs on Friday.

$SPX - The S&P 500 Index, needs no introduction. The major US benchmark index closed out the week with 98 stocks making new one-year highs on Friday.

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 95 new 52-week highs on Friday, up from the prior week.

$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 week with 51 new one-year highs on Friday - more than 12% 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 44 new one-year highs to close out the week.

Why New Highs?

The New Highs lists for each index are 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 Highs Lists can also help point us in the right direction.

I share the New Highs Lists every week, be sure to subscribe to Leverage Charts and follow along.

Thank you!

Brian Bond, CMT