Thursday, January 19, 2012

The Bull Market is confirmed


A technical analyst will ever rely on one indicator to make a technical call. The key is to use other unrelated studies – so if you use simple moving averages do not use the MACD and if you use a simple rate-of-change to not use another momentum study and so on

The technical evidence to support the call for a new 2012 – 2013 bull market is compelling. Long term cycle work and the simple 50 and 200 day MAs are positive. The short 2011 bear has completed a perfect Fibonacci retracement of the 2008 – 2011 bull and now we have the NYSE advance decline line breaking out. So don’t listed to those doom and gloom idiots – get long and enjoy and most of all avoid those gold bugs

4 comments:

Shawn Severin said...

Why does the NASDAQ AD line look so different than the NYSE AD line?

Anonymous said...

Are the SnP and DOW breaking out?

Gettingtechnical.com said...

Hello Shawn

The NASDAQ A/D line is lagging possibly due to the group being concentrated in info tech and bio-tech stocks - the NYSE is a broader measure of the US equity market

And yes the DOW and the S&P have broken above their late October highs

Bill C

Shawn Severin said...

Great call.

Shawn