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fib_1618

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It turned out to be an exceptional week for the US markets, so much so, that I've had to rescale the y-axis on many of the breadth charts.

Besides the NYSE composite, common, preferred, and bond advance/decline lines closing at new all time highs, the real estate A/D line exploded to the upside and is now within range of its all time highs! Even more importantly, the NYUD (volume) line moved to 46 month recovery highs providing the upside conviction that has been missing for the last couple of weeks.

The global markets remained mixed with Australia still under pressure, but the FTSE and DAX advance/decline lines moved to new recovery highs and are now within striking distance of their all time highs!

The precious metals A/D lines, however, remain cautious with both silver and gold extending their parabolic gains. In fact, gold looks to be at an similar acceleration point as silver was back in February when it was trading at around $28.00. The continued cautious nature of the gold bugs at this juncture should be respected for what it may imply for the precious metals arena overall - that is - a blow-off stage.

Other than a possible one or two day rest to catch our collective brea(d)th, and dependent on amplitude of the move, the expectation for prices next week would be for continued follow through to the upside that should carry us into the beginning of June...maybe more...we'll see.


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US Interest Rates:



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Precious Metals:






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England:



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