Stocks Making New 52 Week Lows Hit YTD Highs

Following up today’s 1.5% drop in the S&P500 $SPY, we take a quick look at market internals via 52-week highs/lows to see what they have to say.

This first chart is a YTD look at the number of NYSE stocks hitting new 52 week highs and lows. It’s quite clear to see the uptick in the number of new lows throughout the month of August to the highest levels seen all year. At the same time, the number of new highs has dried up.

stocks-making-new-52-week-lows-hit-ytd-highs-image1

That view by itself looks quite bearish, but let’s also zoom out and take a longer term perspective.

The next chart goes back to the end of 2014, and we can see here that while the August uptick does show itself, we are not (yet) at the elevated readings seen back around the start of 2016 or summer time 2015.

stocks-making-new-52-week-lows-hit-ytd-highs-image2

Per usual, indicators like this are great for overall market context, but everyone needs to assess how relevant this is for their specific strategy and time-frame.

For more information and tips on incorporating market internals, check out our post: How Market Internals can Improve your Trading.

Good luck out there.


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Evan Medeiros

Evan is the founder of the Trade Risk. With 20+ years of coding experience and a B.S. in computer science, Evan brings a systematic discipline to investing in the stock market.

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