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Of special note this week first comes with the NYSE Common Only Advance/Decline line which has now perceptively broken above its April highs. Now the question becomes whether we attempt to go directly and challenge the all time highs and use this breakout line for later snapback support, or will we hang around this breakout line into quadruple witching and build momentum into the end of next week??

Second on the agenda comes with the Bond CEF Advance/Decline line which, after snapping back to its previous trendline, has now moved to lower lows. This would indicate that we now have a top in place, that the trend for this money flow aggregate is now to the downside, and with it, we should now expect higher 10 year rates over the intermediate term time frame.

Lastly, we are now entering into the apex of a right angle triangle with the NYSE REIT Advance/Decline line. Look for a robust breakout very soon, with the pattern itself suggesting that the move will likely be to the upside.

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