New Highs anyone?

The market has been making new highs yet individual stocks have been lagging on this recent move up. Here is the NYHL chart, Be definition it is:

"The $NYHL index a market breadth indicator that is calculated at the end of each day by taking the number of stocks making New 52-week Highs on the NYSE and subtracting the number of stocks making New 52-week Lows. Those values are then plotted cumulatively to create the NYSE High-Low Line that you see above."

So you can see the slight divergence going on with the market advancing higher but stocks not getting above their 52week high's.

Keep an eye on out on this indicator. The fact that stocks are making new high's is bullish but the lack of new highs can be a signal there is a chance of a pullback. Of course it this trend moves back up it bullish.
You can see a similar pattern in 2002, in this chart. Notice how the market went to eventually continue it's up trend.