10 Sept 2012

 Although a lagging indicator, there still exists a significant divergence between this and the previous peak.

 Medium term is looking like a battered boxer that keeps getting back up to try again.  Eventually, it won't get back up.

 Short term is looking almost mechanical as of late.

In addition to the huge divergence between the Russell 3000 and its advance decline line, here is the divergence between the Nasdaq 100 and its advance decline line.   Is it only Apple left?

"In times of change learners inherit the earth; while the learned find themselves beautifully equipped to deal with a world that no longer exists."
Eric Hoffer