CAREFUL BULLS

....THIS MAY BE ONE OF THE BEST CALLS I EVER MADE! POSTED ONE MONTH AGO!

THE KEY TO WHETHER THIS IS 'THETOP' OR JUST AN INTERIM PAUSE(WHICH I FAVOR...) IS NEW HIGHS ,NEW LOWS O/N THE NYSE..SO FAR SINCE ABOUT JUNE ,NEW HIGHS HAVE BEEN SIGNIFICANT WHILE NEW LOWS HAVE NOT EXPANDED EVEN DURING ANY DECLINES. WHEN 'THE TOP' IS IN YOU WILL LIKELY SEE THAT REVERSED!

Find Historical Data | WHAT'S THIS?
Wednesday, September 23, 2009
NYSE Latest
close % Chg from
65-day avg Previous
close Week
ago
Issues traded 3,160 0.2 3,156 3,168
Advances 1,074 -38.6 2,161 2,554
Declines 1,973 52.3 886 525
Unchanged 113 2.6 109 89
New highs 306 246.9 246 354
New lows 2 -37.5 1 2
Adv. volume* 246,799,510 -65.3 937,674,220 1,332,484,075
Decl. volume* 1,050,416,267 101.7 304,054,890 240,807,280
Total volume* 1,320,101,987 5.9 1,266,585,710 1,581,449,195
Closing tick -462 ... +353 +924
Closing Arms (TRIN)† 2.32 ... 0.79 0.88
Block trades* n.a. ... 6,747 8,127

NOTE NEW HIGHS ...306 AND NEW LOWS ...2

Good analysis Kool !

Also note divergences on the weekly chart as well.

Bullish sentiment at an extreme...

indeed, P.T..... All the pieces are certainly in place, however no guarentees yet! But for the first time since march, there is now the possibility of a major top forming here or not too far north of here. I had long maintained to watch the area around the .382 retrace in terms of time from the all time high in oct to the bear low in march. That date was actually sept 17! and of course my cycles pointing for a top in the same general timeframe (sept 24) 4 days away have got me nervous on the long side for the first time in a long time! If we do continue higher, i dont think theres a whole lot left, but time will tell.