Technical Watch Cumulative Charts

Cumulative Data
Week Ending 11/26/04

Comments are annotated on the McClellan charts below.

The bottom line for this week is that the marketplace continues to support very strong internals at this time but where - under "normal" conditions - we now have our best chance for a rest period (or pause) to materialize since mid October.

However, because of the high volume and breadth McClellan Summation Index readings, the short term expectation would be to look for a price trading range to develop during this pause for most of the month of December. This same period should also help alleviate the bullish and complacent sentiment that currently nags the trading environment as well.

It will be from this next base formation where an exceptionally strong price advance should then take place, so position yourself accordingly.

The above charts are courtesy of StockCharts.com

Comments provided are for informational purposes only
and not intended for trading purposes.

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