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The Climb Higher Continues October 8, 2017

Posted by Tom in Thoughts.
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Oct. 6, 2017 – The markets continue their climb higher, but note that prices are approaching that top trend channel line.  That’s the area where we’ve encountered corrections back toward the lower trend line.  One item that may confirm this slowing is the drop off in volume (lower pane).

Money Flow, Volume Flow and Sentiment indicators (top panes) continue to be bullish. And so I remain invested, but watchful for signs of weakening.  I’ve shifted the “UTAD” label up and these higher prices on lower volume could confirm that Up Thrust.  Still a little early though.

The table below shows sector strength.

I like select stocks in Banking, Oil & Gas, Semiconductors, Industrials and Basic Materials.  That’s it for now.  Have a good week !  …  Tom  …

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