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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.
And a horizontal trading range it was as September's quadruple witching passed with nothing but a whimper. This weeks charts continue to support bullish characteristics highlighted by the interest rate sensitive Bond CEF, Preferred and Specialty advance/decline lines closing yet again at all time highs on Friday. On the weak side, we see that the NYSE Common Only advance/decline line did find initial resistance as it approached its all time highs last Friday, and the NYSE REIT advance/decline line showed some profit taking as well. With the current bullish configurations in the rest of the NYSE related charts, both of these A/D lines should also move to higher highs on any further push to new highs in prices to help reinforce the strength of the current advancing trends. Also on our radar for next week will be with the internationals with Australia's Old Ordinaries advance/decline line now up against its intermediate term declining tops line from where a break above this line would be a highly bullish event. Meanwhile, the FTSE price index is right up against its longer term declining tops that is part of a larger symmetrical triangle going back to 2010 ( http://technicalwatch.com/forum12/ltftse092112.png ). With the FTSE advance/decline line already at all time highs, and the DAX advance/decline line already making higher highs this past week, next week has great potential of producing a global character statement by the bulls that would leave little doubt as to the path of least resistance. We'll see how it goes. 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