Stocks continue to trend higher as investors cheer on new highs.
And better yet, another important broad index (that was recently lagging) is making new highs: The NYSE (New York Stock Exchange) Index.
Bulls love confirmation. And this would be a great index to get confirmation from.
Just need to see a couple things. See below.
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$NYA – NYSE Composite Index Chart
Here we can see the breakout from a wide base. And the 20 and 50 day moving averages are trending higher. But not all breakouts are created equal. Bulls must see follow on buying. Stay tuned.
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
