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February 23, 2006
NYSE Composite Closes at New High
The NYSE Composite closed at a new all time high yesterday. The surge over the last six days is third surge of the year (gray ovals) and this keeps the medium-term uptrend in tact. There is one small problem brewing though. NYSE volume has been declining since late January (blue line) and yesterday’s volume was barely above average. This is a warning, but the index would not turn bearish unless it breaks 7900 support.
Posted by Arthur B. Hill at February 23, 2006 06:33 AM