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fib_1618

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Reply with quote  #1 
Are now up and can be reviewed by clicking here.

BETS -10 - Neutral, Cash Position.

Note: NYAD line is now in a bullish configuration and leading to the upside.

Fib



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"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

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doc

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Reply with quote  #2 
Looking over your charts, we have the makings of a legitimate bullish breakout. Agree that NYUD and NAUD clearing their 200 emas would lend strong support to this idea. If that were not to be in the cards, I would like to point out that on the NYSI chart, in addition to the accelerated DTL that we have broken up out of and the long term bears last line of defense, there is an intermediate DTL off the May and July highs that comes in now right around the +250 mark, whick also happens to be a common turnback point for the NYSI in continuing bear markets. Just another item to keep an eye on as it is nearby. Perhaps you could be kind enough to add the extra dotted line if you like the idea. Have a great weekend!
Doc
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fib_1618

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Reply with quote  #3 
I tried playing with the May/July line earlier and it made the chart look too busy, but your reference as to its overall importance has been shared.

While we're on the subject of declining tops lines, also of note is that the line in purple that crosses the +450 level on the NYSE breadth MCSUM goes all the way back to the 3 Step Buy Signal top back in September of 2009. A break above this level could be good news or bad news for the longer term structure of the market all depending on how the rest of the cumulative charts look when and if we reach this same level.

In the fullness of time.

Fib


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"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

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