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NYSE monthly chart with the 100% projection 2000/2002 mentioned earlier (9455.30). We closed at 9453.93 and it will be interesting to see if bulls can manage a close above in the coming days. This is a big deal. The chart tells you how powerful this bull market has been since 2003, with NYSE doubling in value since the 2002 low and now culminating in eight positive months in a row, a feat never accomplished by this index. For a slowing economy (do not compare to 1995 which had an expanding economy and was the beginning of a four year bull), it's quite amazing. Don't fight the tape but always be aware of where it is.
A helping hand for bulls? ISEE prints a close of 127, hardly a picture of unbridled enthusiasm. Link .

This entry was posted on Tuesday, February 20, 2007 at 2/20/2007 08:32:00 PM. You can skip to the end and leave a response.