the three major breadth thrusts since late November (using the daily NYSE advancing:declining volume ratio for this chart) :
http://stockcharts.com/h-sc/ui?s=$NYU...amp;a=228904376
Dec 30, 2011 - general summary comments:
1. the V-bottom structure of actual price and volume breadth and breadth plurality since late November has only been briefly violated by the recent and very quick spike down ... the overall rising structure since late November (V-bottom) has not been violated for a significant period of time, so I personally consider the rising structure for both volume and plurality breadth and for price action to remain intact until the pattern of higher lows by the 8-day smoothed data is actually VIOLATED.
* 8.08 is the Dec 30 value for the 8-day smoothing of the NYSE Up to Down volume ratio shown in the chart, which resides below the most recent early-December prior high following the late November V-bottom structure
2. the price action for the NYSE Composite Index now requires more upside follow-through to convince the skeptics that price action is actually confirming what volume and plurality analysis of the NYSE breadth raw data displays is now a potential rising trend with further upside potential.
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*** all of these chart links are viewable in full detail only if you have an extra level subscription to stockcharts.com
Gold monthly performance -
http://stockcharts.com/h-sc/ui?s=$GOL...amp;a=184300105
Gold, Copper & WTIC daily performance on one chart -
http://stockcharts.com/h-sc/ui?s=$GOL...amp;a=184304694
Gold monthly price bars with an WTIC price closes overlay shown in purple color -
http://stockcharts.com/h-sc/ui?s=$GOL...amp;a=232727540
Gold monthly price bars with three selected John Murphy style MACD's -
http://stockcharts.com/h-sc/ui?s=$GOL...amp;a=193279494
Gold weekly price bars with three John Murphy style MACD's -
http://stockcharts.com/h-sc/ui?s=$GOL...amp;a=177080432
daily closes for XAU Index and
Copper / WTIC /Euro / US Dollar index / and daily price bars for Gold -
http://stockcharts.com/h-sc/ui?s=$XAU...amp;a=162037574
Happy New Year! and to "mss": I send a heartfelt thank you for the many blessings over the years resulting from your generous sharing.
You are special.
Edited by hiker, 02 January 2012 - 04:51 AM.