bear vs bull market - bear vs bull market chart

bear vs bull market

Taking a quick peek at the bear vs bull market we can clearly see that we are currently still in a  BULL MARKET, there is not doubt a bear market is far away, and you do not have to look at too many charts to realise the bulls really have taken some buying VIAGRA lately.

As you can see the red and blue lines have yet again gapped away from each other more extensively, confirming the strength of the market for 2013.

We do have legs to run alot higher in 2013, but one must remember things do not go up in a straight line and dips should be bought if and when they come.

bear vs bull market

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McClellan Timer chart - McClellan Timer chart

McClellan Timer chart below.

As you can see the McClellan timer chart is a good chart to spot divergences. The chart below is showing us that the Nasdaq has been in a nice upwards channel since the very beginning of 2013. We have not busted out of this channel on the up side or the down side.

The most important thing on this chart is that the NAMO market breadth has been declining for the last few months, while the price has been increasing slowly and steadily.

The NAMO is still in positive territory and that is a good thing for the bulls, and due to the face we are still in that upwards channel drawn below, that is also favoring the bulls.

The worrying thing here is that rising price, and falling NAMO is not bullish typically.

This chart is now telling us that the 3150 or around this level is very significant.

McClellan Timer chart 

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Dow Jones Transports - Dow Jones Transports steaming ahead

The market at the moment is steamrolling ahead. Amazingly we are only now just a 2 or 3 points away from our 1500 target! WOW! You have to love charts, and also technical analysis, I do not claim to be a guru or a psychic, but I do know how to read charts properly and forget the news. That is how we are so accurate with our calls.

Right now the tick data is yet again at oversold levels, and we shall see a rally in globex or open hours I think.

tick data

Dow Jones Transports chart. 

Take a look at the Dow Jones Transports chart and have a look at the very nice upwards channel we are in. This is proof that the bulls are still alive and well. As we have been saying for months, we are still in buy the dip mentality, which has not only been correct, but a smart thing to do since the start of 2013.

Looking at the Dow Jones Transports chart we seem to think higher prices are coming.

dow jones transports chart

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