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Aside from the emotional roller coaster ride provided by Libya this past week, money flow remains buoyant with all the markets covered in this weekly update except for the Australian market which continues to show break down activity.

Of special importance this week comes with the Bond CEF Advance/Decline line which was not only able to move above pattern resistance, but it was also able to move to new all time highs this past Thursday. Being that this group of stocks are exceptionally sensitive to liquidity flows, this change of direction from down to up gives the bulls some new found vigor to (most likely) carry the current advance in prices into the early summer period. These new all time highs also suggest that the advance in the yield of the 10 year notes has probably topped out for now, and after finishing up our current obligatory snapback to what was the rising bottoms line seen on this weeks chart, the short term expectation would be for rates to move net sideways with a lower bias.

Although the prices of spot gold and silver went to new highs this past week, we're still having a bit of problem with the underlying breadth of the broader based precious metals stocks in confirming these same highs. However, money continues to support the XAU components during this advance so the gold bugs may want to continue focusing on this small group of stocks until we see better overall balance to support any further advances in the spot prices.

Please be advised that next weeks breadth charts update will be delayed until Monday, March 14th, because of prior commitments.

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