At the end of each week I run a scan of stock exchanges in the US and Canada looking for stocks reaching all-time high prices in the previous week of trading. At the end of each month I summarize these data with the idea that the aggregate number of new all-time highs is an indicator of market strength or weakness. Perhaps this can compliment other metrics like the New High-New Low ratio that is used so well by Chris Perunna. The all-time high stock recap for October is here and November's recap is below. Click on any weekly value to see the stock charts from that week.
New All-Time Highs in each week of November
| Date | US (>$10) | US ($2 to $10) | TSX (>$10) | TSXV (>$1) |
| 6-Nov-09 | 32 | 2 | 3 | 1 |
| 13-Nov-09 | 44 | 1 | 6 | 1 |
| 20-Nov-09 | 49 | 2 | 10 | 0 |
| 27-Nov-09 | 26 | 0 | 9 | 1 |
What can we learn from this table? Well, the market continued to propel stocks to new all-time highs all month, which is a sign of strength in a few sectors. However, small-cap stocks are lagging, which is not what we want to see. A possible divergence is emerging between the US and Canadian markets in that fewer US stocks made all-time highs in November than in October; whereas, the opposite was true on the TSX.
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