Something that should not be overlooked is the NYSE New 52-Week Highs chart. It appears that Market Makers are in the process of selling as Retail Investors continue to buy. Over the last two years this has been a consistent contrarian indicator.
“….it is not demand that causes rising stock prices but rising stock prices that cause demand.”
Richard Ney, Making it in the Market, 1975, page 88
Note that this information is for educational purposes only and not a recommendation.
Chart courtesy of StockCharts.com.
