Ferdinand it will take a higher high in the MCOs for any chance of breaking out to higher price highs than that of the July peak. During the latest pause period it remains important that the market not break down from here below the divergent points on the MCO pattern seen in mid August. If we do then we'll probably be in store for continued corrective action going into December period where the next ideal time for the 9 month low is forecasted. Lucky for us buddy this won't transpire. The MCSUM will undoubtedly now move smartly back to +1200.
Now that we are close to taking out the highs on the SPX there is a high percentage chance that a new (and continuing) advancing price trend is underway. Buy, buy, buy this has been the easiest trade during this latest sequence. Right now only breadth plurality matters - price is seconday - as breadth leads price and price can take its time in catching up to what breadth is telling us with the NYAD line close to new all-time highs again. And the longer it takes to do so, the quicker and more dramatic the move we will eventually see. So at this point higher prices will more than likely continue to be seen with the benefit of breadth confirmation. Snort.
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