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Posts: 4,917
Reply with quote  #1 
I am once again sorry for the delay in getting these charts up...had something unexpected happen that needed my attention.

The big news this week is with the Bond CEF's which broke their long standing rising bottoms line on Friday. Our first technical expectation is for a snapback to this line over the next week or two, and once that's accomplished, we should then have a better grasp on things as to how important this break might be longer term. Also of note is that the yield on 10 year notes also broke above its near term resistance with this A/D line trend break.

The rest of the charts are pretty much self explanatory...some showing little in the way of technical damage, while others showing the lack of bullish follow through that was necessary in the early part of the week...which eventually resulted in the market's technical declines into Friday's close.

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