Market's Bill Of Health: Market Rally Broadens Out As Financials And Consumer Staples Join The Party - Seeking Alpha
This is a bullish article about how we are not currently near a stock market top because new highs are being made by a broad range of companies. Most of the sectors are above their 200 day averages, and the trend is still rising. One basic sign of a market top is that only a small percentage of companies are near their highs while a greater percentage of stocks are 20% or more away from their annual highs. That is not the case with stocks right now. The broad bullish participation means we are not in immediate danger even though some stocks have gotten expensive.
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