Widespread multi year and all time highs can lead one to question his bearhood. I entertained the idea of writing this report from a bullish perspective, but could not do it. Leadership is narrowing and downside volume is approaching the levels of the 2002 low. Prices are being held up by a lot of upside volume going into diminishing number of issues. That pattern is consistent with a top and it is likely the date of that top is near.

I expect the major indices to be lower on Friday May 12 than they were on Friday May 5.

Mike Burk

Aparentemente parece indicar o inicio de um novo swing de alta, mas o volume tb me deixa apreensivo... Num anterior update sobre o SPX disse que caso se viesse a verificar este rompimento esta linha de topo poderia passar a suporte.Vamos aguardar se a próxima semana confirma este rompimento
Não esquecer que alguns gráficos mensais que apresentamos aqui a semana passada mostravam spinnings tops , com a excepção do SPX, embora o volume neste tb tivessido sido realçado