Stock Indices Keep Making New Highs but Individual Stocks Aren't

A few weeks ago we highlighted here how new highs in stock indices have not been confirmed by the percent of stocks also making new highs. This is a symptom of narrowing individual stock participation in the advance of broad indices and has been going on now for about five months. Here we simply revisit that analysis from a few weeks ago with updated charts showing that yet again we have new highs in stock indices, but a smaller percent of stocks making 1000-day highs.







Japan marches to it's own beat, as usual: