Today’s chart of the day shows the percentage of NYSE stocks at new 52-week highs on days that the NYSE Composite closed at a 52-week high, since 1999. It illustrates the thinning of the current rally:

Yesterday’s new high close in the NYSE Composite was accompanied by 3.57% of NYSE issues also hitting new highs. That was the lowest figure since October 12, 2007, coinciding with the cyclical market top. Since 1999, there have been 8 other days in which the NYSE Composite closed at a 52-week and there were fewer than 4% new highs. 6 of those occurred at the cyclical top from mid-July to September 1, 2000. The other 2 dates were November 25, 2005 and December 31, 2010.

**UPDATE: On May 5, as the NYSE Composite scored another 52-week high, the % of NYSE stocks at new highs registered a lower level than it hit on April 30. The 2.77% of NYSE stocks at new highs was the lowest figure since August 25,2000.