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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (1038726)	11/14/2017 1:02:59 PM
From: Rarebird	Read Replies (1) \| Respond to of 1578550

The A/D line peaked out on October 20. It's to early to derive any conclusions from that yet. But I will say that the A/D line typically peaks out 6-9 months before the major indices do. So, if that was the peak, a top is possible by March 2018. My intermediate and long term models are bullish. My short term model is neutral. The market looks like it is becoming a bit impatient for its promised corporate welfare payment, the Trump Tax cut. The Market was extremely overbought, rising just about every day until recently. The Russell 2000 never confirmed the advance. But all the other major indices did confirm, including the Dow, S&P, Nasdaq, NDX, SOXX and S&P Midcap 400. I can't even find a major index trading below its 50 Day EMA. Maybe the Russell 2000 will oblige today. Also, the Utilities have been hitting new highs lately and they are also a leading indicator for the stock market. So, no, I don't see any sign of the Bear here. A correction of about 5% looks likely if the tax cut doesn't get passed.