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May 25, 2023

Why I Don’t Track the NH-NL Line

I like just about all types of breadth indicators, but I have learned that each type of breadth data requires its own proper manner of interpretation.  The whole point of looking at breadth data is to get a different answer about market behavior than what prices are saying, and hopefully that different answer is a useful one. For this reason, I do not pay much attention to the difference between New Highs (NH) and New Lows (NL).  Each of those items can be interesting on its own, if interpreted in the right way, but putting them together is not very useful.… more


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