I present below (click to enlarge) NYSE volume charts compliments of a reader who has noticed that unlike in the last 2003 "end of bear market" period, when New Highs and New Lows fluctuated constantly, indicative of broad buying and selling, the current rally which has brought 80% of all stocks above their 50 DMA, is much more indicative of very few people pushing trading at essentially the same price points as the New High/New Low has basically flatlined constantly from the March 9 lows.
Absent the very wide trading range that stocks have experienced (filling the major overbought gaps?), there is very little that can immediately explain this very odd NYHL behavior. I welcome any feedback and rational observations.
Paging anyone at the NYSE for a plausible explanation for this phenomenon.
hat tip Scott