As the markets continue to surge ahead, the equities on the Nasdaq and New York Stock Exchange continue to hit new highs.  61 companies on the NYSE and a whopping 116 companies on the Nasdaq hit new 52-week highs yesterday.  Companies hitting new highs included Ford (F), Expedia (EXPE), and Bed Bath & Beyond (BBBY).

Since the middle of the month, the NYSE has gone from a low of 2 new highs per day to hitting 71 new highs on July 23, according to data from Thomson Reuters.   It has seen an average of 46 new highs per day in the past 10 trading sessions, levels not seen since September 2008.  By contrast, the exchange is having fewer and fewer new 52-week lows.  The NYSE had 16 new 52-week lows on July 10, but has only had one or two new lows in each of the past 7 trading days.  The ratio of advances to declines hit a peak 11.7 on July 15 further indicating a strong market.

The Nasdaq, which has been leading the current rally has seen even more new highs.  Since the middle of the month, the tech heavy exchange has gone from a low of 5 new highs per day to hitting 125 new highs on July 23.   It has seen an average of 78 new highs per day in the past 10 trading sessions.  By contrast, the exchange is having fewer and fewer new 52-week lows.  The Nasdaq had 34 new 52-week lows on July 8, but has only had 10 or fewer new lows in each of the past 6 trading days, with only 3 new lows this past Monday.  The Nasdaq advance / decline ratio hit a high of 8.76 on July 15

In advance of the GDP numbers due out at 8:30, the futures are pointing up again today.  Leading the Dow in the premarket are Alcoa (AA), Bank of America (BAC), General Electric (GE), Pfizer (PFE) and Merck (MRK).

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