New High

S&P 500 made a new high but so far there is nothing to write home about. Let’s explore with the help of a chart.

Please click here for a chart of S&P 500 ETF (SPY).

  • This is the shortest bear market in history.
  • The chart shows that the new high is only nominal.  It is barely visible on the chart.
  • RSI shows that the stock market has lost momentum in the process of making this nominal new high. RSI measures the internal momentum.