NYSE stocks have recorded 17 consecutive days where new lows exceeded new highs.
Here’s the chart:
Let's break down what the chart shows:
The top panel displays the S&P 500 as a black line.
The second panel displays the NYSE stocks new 52-week highs as green vertical bars.
The third panel displays the NYSE stocks new 52-week lows as red vertical bars.
The bottom panel displays consecutive days where the NYSE new lows exceed new highs as blue vertical bars.
The Takeaway: 17 straight sessions where new lows beat new highs puts clear pressure on the market’s internal engine.
Bears have controlled participation across the market for more than two weeks.
This streak length does not occur during healthy advances. Bulls normally expand the new high list and keep new lows contained. That balance has now shifted in the opposite direction.
The new high list has dried up. Only 2.7% of stocks are hitting new 52-week highs. Bull markets run on expanding leadership. At this level very few stocks are making new highs while more names are breaking down to new lows.
The low list is moving in the other direction. NYSE new lows just reached 7.7%, the highest level since April 11, 2025. That reading means more stocks are breaking down to new lows.
This imbalance has now lasted 17 consecutive sessions. Persistent runs like this show broad selling pressure across the market.
Price is now reacting to that internal weakness. The S&P 500 now sits -8.7% below its all-time high and is at a 7-month low.
Breadth broke first... Now price is starting to catch down to it.
Participation tends to drive the overall trend, and right now the bears control participation.
So, when does the new low list finally stop expanding?
Grant Hawkridge | Chief Aussie Operator, All Star Charts
Most traders are guessing. Kenny isn't. On March 31st at 1:00 PM ET, he's pulling back the curtain on the daily routine, the one indicator, and the exact pattern behind his "Golden Week."
