New high with few uptrends
Once again on Tuesday, the S&P 500 managed to close at a record high, and once again less than half of its stocks were above their 50-day moving averages. This is a remarkable divergence in fortunes between those pushing to new highs and those struggling to hold in medium-term uptrends. Out of 18 signals since 1927, 3 of them have triggered in the past 4 sessions. The rest of them have not been bullish.

