this is an impulse down after making marginal new bull market highs
That would be new recovery price highs....and the Aussie A/D line diverged with the recent May high and is now leading lower.
And what the Federal Reserve does has little effect on this market as they have their own central bank that makes their own policy decisions.
Fib
It was a new high for the 09-13 cyclical bull. I am saying it is tough shorting the US Fed controlled markets compared to others
that seem to not care for Ben's tactics, and if they do, like Japan, still don't work.
I don't know where you get A/D data for foreign markets, I can't find them, maybe you construct your own or Decisionpoint.
The fact there was an A/D weekly divergence means AORD could resume the secular bear here like US in 1937. At some point,
if the Fed has damaged the mechanics of the NYAD by artificially keeping it higher, then we could see a crash like Nikkei or
return to the bear with no divergence. I do not want to believe that, but US markets don't trade like other markets, they don't seem
free to move.
Edited by CLK, 07 June 2013 - 01:03 AM.