New Highs Are Soaring: Should You Be Worried?
Posted on January 09, 2013 at 18:37 PM EST
In the first six trading days of 2013, new highs have rocketed higher as new lows dwindled to next to nothing. So far this year, combined new highs -- the Nasdaq plus the NYSE -- are 683, 405, 257, 276, 263 and on Wednesday, 384. New lows combined are 14, 13, 5, 8, 10 and on Wednesday, 8. Should investors be worried about a market peak? Not necessarily. Research for an Investor's Corner article in October 2009 showed that while a big number of new