Thursday May 22 2014
Ths chart adds a ten month monving average. Like our weekly advnce decline line it is a near infallible indicator. Like anymoving average it lags but oncein place it tracks the move for years. Richard Russell liked to use the Dow 65 Composite, all the Industrial, Transport, and Utilities in one index.
It is still headed up.
Russell
WE have a few days to go to the end of the month. But at 1120 for the 10 mma, the price is around 113. If we get a lower close that will be the first real indicator of a top in one index.
Weekly RUT
It has been over two years since we had a test of the 200 week MA. Loks like that may be in the offing. If so this is the ide John Murphy has proposed, that November will bring a good buy in the market. IF the markets fall that far we would certainly be due for a bounce by then.
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