Weekend July 10 2022
While the prices of the major averages advanced this week, the rest of the market did no do so well.
the advance decline volume index is clearly in a major downtrend
We emphasize again and again that all the major indnuary of this year, it is as though the switch was turned from bull exhaustion to new bear strength.
Of course the NASD looks worse given its 30% decline
It is not the company it once was but perhaps GM is still a bell weather
I was thinking bond prices have bottomed but perhaps not. TLT is at best failing its rally.
I bought a modest portion of closed end municipals which are at a profit point now, I may dump them tomorrow. Stay tuned.
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