Higher Lows - but will it move higher after the FED reports

 

Many would rather just shove their strategy down the market's throat whether it makes sense for that environment or not. I find that foolish. One chart that I thought told an important story last night was the Nasdaq Composite plotted with the New Highs - New Lows list. It shows the bottoming "process" taking place beneath the surface:

While the index continued to make new lows toward the back half of last year, it tricked many investors into believing that it was still a bear market. Most investors don't have the time or even the awareness to acknowledge that it is a market of stocks, and not just a "stock market". If you're only looking at the index, then of course you think it's a bear market.