Registered: 1101777014 Posts: 4,722
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"All of the NYSE breadth advance/decline lines closed at all time highs on Friday with the lone exception of the Bond CEF advance/decline line which did so on Thursday. The NYSE Preferred advance/decline line in particular is now showing an almost parabolic angle in its structural ascent as money continues to plow into issues that give an all around total return on capital. Our focus for next week will be with the NYSE breadth MCSUM as it approaches its shallow declining tops line (see the Cumulative Charts update) as any break above this line, at this juncture, could stimulate a historic price run to the upside."
"Although the XAU advance/decline line was able to snapback to test its declining tops line this past week, the Precious Metals advance/decline line continues to look very weak here suggesting that we might be on the cusp of another swoon to the downside for the precious metals complex as soon as early next week. It will be important for the gold bulls to start to build divergence on any weakness we may see near term or the next possible time period for a potential tradable bottom may not come until August." Fib __________________ Dave's LinkedIn Profile Technical Watch Twitter Page Technical Watch Facebook Page "As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan "An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan "What we see depends mainly on what we look for" - John Lubbock "The eye sees only what the mind is ready to comprehend" - Henri Bergson “Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977 "You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977
Registered: 1101965992 Posts: 8,872
Reply with quote #2
thank you very much for these useful data observations, Dave!
$9390.67 = the newest 50-month high print by the NYSE Composite index - intraday May 7, 2013 see attached chart vs. your continued upside target of approx. $9,800 for the NYSE Composite index as repeated here in your recent chart post - http://forums.technicalwatch.com/post/Cumulative-Charts-5313-6328258 Attached Images
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