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fib_1618

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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!


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