What is Net New Highs?
Net New Highs is a breadth, relative-performance or intermarket concept used to compare one market with a wider group, benchmark or related series rather than reading a single price chart in isolation.
Net New Highs matters because it gives analysts a consistent way to discuss cross-market and breadth analysis. Breadth and relative-strength measures shift attention from one price series to the behavior of a wider group or a comparison benchmark.
How to read Net New Highs
Read Net New Highs as a comparison rather than an absolute signal. The benchmark universe, weighting and lookback period determine what relative strength or breadth is actually measuring.
What Net New Highs does not tell you
It focuses on an upper price, range or participation reference and should be read relative to the surrounding timeframe. Parameter choices, timeframe and data quality can materially change the result.
Use in bonds, rates and macro markets
This is especially relevant to global macro and fixed income, where cross-country yields, curves, currencies and risk assets often move through shared regimes.
Technical chart structures are context, not certainty. BondStats does not present a candlestick, drawing tool, indicator reading or chart pattern as a standalone investment recommendation. Where a concept depends on discretionary anchors or parameter choices, those choices should be made explicit.