How many minutes have new highs?

Continuing looking at  new intra day new highs, how often do they occur?  Not sure what to make of it, but here are the numbers.  A different study would be to break up days vs down days.  My guess would be up days would be the bottom portion (meaning 11+ new highs during the day) of the table and down days the top portion of the table.  There are 6 1/2 hours in a trading day – 390 minutes – typically (75% of the days),  less than 20 minutes (or 5% of the minutes in a trading day) have a higher high.

number of highs intraday count % cum %
1 27 8% 8%
2 24 7% 15%
3 12 4% 19%
4 13 4% 23%
5 15 4% 27%
6-10 62 19% 46%
11-15 42 13% 58%
16-20 44 13% 72%
21-30 57 17% 89%
31-70 38 11% 100%
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