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fib_1618

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Another corrective week for the bulls as all of the NYSE and Precious Metals advance/decline lines finished Friday at or above their intermediate term rising bottoms lines since the early summer lows.

On a positive note, the NYSE Bond CEF and Preferred Stock advance/decline lines continue their amazing run to new highs. As long as these interest rate sensitive derivatives continue to make higher highs, it promises us higher stock prices overall in the not too distant future.

On the negative side, both the DAX and FTSE advance/decline lines broke below their rising bottoms lines due to renewed budget pressures from Spain, while the Aussie advance/decline line is finding its intermediate term declining tops line a hard nut to crack in being able to move above this line of bearish resistance.

So with these mixed signals, we'll have to wait and see how things go next week as we continue to look for our next chance of a tradable top sometime after the mid October period.

Have a great week of trading!


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