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All in all then it was a good week for the bulls, and depending on what may happen next week, any strong follow through will likely push prices higher for the next couple of months, with an outside chance into the 1st quarter of 2013.
Another great week for the bulls with the NYSE Common Only advance/decline line now only 132 net advancing issues away from joining all of the other NYSE A/D lines at new all time highs. We also had both the Precious Metals and XAU advance/decline lines move above their overhead resistance levels as well. Not much to add this week, but I've now included the all time high price levels for the SPX, DJIA, IYR, GOLD, XAU, FTSE and DAX on their respective charts and that might be good for a near term correction for my insolence. But in spite of any pause that might come about near term, the path of least resistance remains higher for now, and should continue to be right through the end of September. Have a great week of trading! US Equity Markets : US Interest Rates : US Real Estate : Precious Metals: Australia: England: Germany: __________________ 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