Wednesday, August 1, 2012

1 Aug 2012

 Divergence in new highs with the rally since June.
 Percent of stocks over the 200 day moving average remains weak.  Also a divergence on this rally and overall from the peak in February.
This is the percent of stocks over the 40 day moving average.  As you can see, it has been weakening since early July.  It is amazing how the Dow and S&P can make everything look so rosy, isn't it?

"We want a society where people are free to make choices, to make mistakes, to be generous and compassionate. This is what we mean by a moral society; not a society where the state is responsible for everything, and no one is responsible for the state."
Margaret Thatcher

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