Will there be non-confirmation among indexes (Chart 3)? It’s certainly probable given the associated lackluster volume and market internals (Chart 4), until technical profiles turn more favorable.
Sunday, August 19, 2012
MTU Weekend Ed. - New 2012 High (8/17/12 Close)
We observed in Breaking (7/27/12) that odds favor a breaking of the 2012 range to date. With SP500 just a few index points away from its 2012 high, the breakout appears to be to the upside (Chart 1). Chart 2 shows how the current movement fits our "Hope Rally model" discussed previously.
Will there be non-confirmation among indexes (Chart 3)? It’s certainly probable given the associated lackluster volume and market internals (Chart 4), until technical profiles turn more favorable.
Will there be non-confirmation among indexes (Chart 3)? It’s certainly probable given the associated lackluster volume and market internals (Chart 4), until technical profiles turn more favorable.