Wednesday, August 31, 2005

Advancing Issues Breakout

There is still 45 minutes left until floor trading on the New York Stock Exchange halts for the day. Even so, I thought I would alert you to the behavior of the daily count of the number of issues advancing in price on the NYSE. This is the chart you see above this post.

Evidently this indicator will have broken above its high points of the past two week (dashed line) as well as above its highs of the past month (solid line) by the close of trading today. In the light of the ongoing divergence I last discussed here, this is very bullish action. The stock market in the USA is headed much higher from here.

1 comment:

Anonymous said...

considering how dependent other nations are on the USA you might not be better off abroad with your money... I think carl is bullish on gold and bonds, which makes sense in all cases including an all out dollar crisis