The market picture has now approached an important technical test. Below you see the Advance-Decline line for the NYSE. The critical question -- if the Dow (shown below) rallies to a new high, will the A-D line (shown below) confirm? As if to avoid this test, the Dow almost acts as though it doesn't dare rise to a new high. If the Dow refrains stubbornly from making a new high, then we will remain in a trading range. Strangely, the market occasionally acts as though it was a living animal that doesn't want to get hurt. This is the way the Dow is acting now.
It looks like the great gold rip-off is completed and over.
A few of the banks (JPM) spread the rumor that gold was heading for $1,000 and that the bull market in gold was toast. This set off a panic in gold and silver, which served the perpetrators ... Log in or subscribe to continue reading.
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