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Overall then, the markets remain quite buoyant, and until we see a prolonged stretch of negative plurality in the advance/decline data, the current path of least resistance will remain to the upside until proven otherwise.
The major market indices took another rest this past week after being higher for 6 out of the previous 7 by closing down by an average of 1.44% from last Friday's close, with the S&P 600 Small Cap index leading the way lower with a loss of 2.28%. In this abbreviated look-see at this weeks cumulative data shows that both the NYSE Bond CEF and Investment Grade Bond advance/decline lines continue to rocket higher as traders maintain their solid belief that interest rates are going to continue to be soft over the next few months. Helping to reinforce this idea of a highly accomodative monetary policy stance from the Federal Reserve, the Precious Metals and XAU advance/decline lines also moved sharply higher this past week as well. As we have seen many times in the past, whenever we see new highs being made in the bonds and precious metals stocks, this us that we will see equities, in general, making new price highs of their own in the not too distant future. Because of this, and the fact that the promises BETS indicator came in again with a +25 accumulation signal, let's continue to maintain our stance from last week of being friendly toward equities, with the new expectation of a re-initiation of the uptrend to take place after this month's options expiration period this coming Friday, April 15th. Have a great trading week! US Equity Markets : US Interest Rates : US Real Estate : Precious Metals: Australia: England: France: Germany: India: __________________ Dave's LinkedIn Profile Technical Watch Twitter Page Technical Watch Facebook Page "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