Below is a good way to gauge the market internals the Nasdaq and NYSE charts with the technical indicator of 10 day moving average of record high percent index. This is just a fancy way of measuring the new highs of the 10 day moving average within stocks in each respective index. You want to see this moving higher as the indexes go up and the dotted line is the line I’ve determined when looking at longer term frames as being potential topping areas. It would have been to condensed to show you the entire chart.
Obviously this is a secondary indicator when trying to analyze the markets, and you’re using this more for some time of divergence than anything else. So far everything seems to be normal with this uptrend and there’s no reason to think it can’t continue.
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