Here is an update of the chart I recently presented:
The SPX is blue, the ratio of cumulative monthly advancing versus declining volume is red. The ratio has turned up (green circle) and it will reach the horizontal red line soon. I think this move will be accompanied by a rising stock market.
The next significant correction will probably happen after the retail sales and CPI reports on Friday. These two reports as well as the consumer sentiment release and Ben Bernanke's speech make this a pivotal day. This is when we should start seeing more bearish signs in the markets.
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