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fib_1618

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Reply with quote  #1 
"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

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hiker

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Posts: 8,859
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
Name: $9390.67_new_50-month_high_print_by_the_NYSE_Composite_...y_May_7,_2013.png, Views: 82, Size: 72.01 KB



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