December 16, 2016 / 2:43 PM / 9 months ago

BUZZ-DJI: six-week streak suggests some stress

** DJI continuing its post-election surge, will record a 6th-straight higher weekly close if finishes Friday above 19756.85; index now up 11 pct over this period

** However, the last such run marked a top and preceded a sharp retreat Chart: reut.rs/2hBV9Wt

** That 10 pct run ended Nov 6, 2015. The index sold off 11 pct on a weekly closing basis into Feb

** Add in that spread between NYSE new yearly highs and new yearly lows has slipped into negative territory

** For this recent move, number of new highs has so far peaked at 484 on Dec 08; has dropped off sharply as DJI hit its 19966.43 peak

** Meanwhile, new lows rising to 126, hitting a 4-week high Thurs as NH-NL spread fell to -12

** And build in new lows now slightly greater than occurred into that early Nov 2015 DJI top

** Thus, despite euphoria of potential win streak, and talk of DJI gunning for an arbitrary round number, broader markets showing signs of internal deterioration

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