russell's top out parade

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    I know there are some on this site (stand up Grant!)who think Russell's an old blowhard pushing his own barrow, so here's a test.

    Russell believes we're seeing the beginning of the end of the US bear market rally. He's just posted a list of items that he feels may have topped out and are turning down. If several of these "indicators" break to the upside then, clearly, he's wrong and the bull continues...

    New 52-week highs on the NYSE were recorded at 615 on January 5, 2004.

    Joe Granville's list of Dow stocks making new "On-Balance-Volume" highs hit a peak of 17 on January 5.

    D-J Utility Average hit a closing high of 272.79 on January 21, 2004.

    My Primary Trend Index (PTI) hit a high of 5438 on January 21, 2004.

    D-J Transportation Average hit a closing high of 3080.32 on January 22, 2004.

    Standard & Poor's 500 Composite hit a closing high of 1155.37 on January 26, 2004.

    Nasdaq Composite hit a closing high of 2153.83 on January 26, 2004.

    Wilshire 5000 hit a closing high of 11281.80 on January 26, 2004.

    Russell's "Operating-Companies Only" advance-decline ratio hit a high of 15.25 on January 26, 2004.

    Russell's "Big Money Breadth Index" recorded a high of 791 on January 26, 2004.

    Russell's Most Active Stock Index recorded a high of 448 on January 27, 2004

    Obviously HCers don't have access to the "Russell" indices but I'll let you know if they break above these levels.

 
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