Thursday, August 31, 2017 9:49:00 PM
8/31/17
Before the last bear market, the Value Line Geometric topped out on July 13, 2007, some 66 trading sessions ahead of the S&P 500.
The Russell 2000 also topped out on July 13th and failed to confirm the S&P 500 when it made its final sortie into record high territory in early October of 2007.
Note the all-important Advance/Decline Line was even earlier topping out on June 1, 2007, some 90 sessions ahead of the S&P 500.
The bottom line here is that it is still too early to draw any conclusions. It would be highly constructive for the stock market’s prospects to see all of its segments get
back in gear. We are not ruling this out. In fact, with our models in a highly positive mode, this is exactly what we expect to occur in the weeks ahead. As we said last time, we have yet to see the speculative excesses that historically take place during the final stages of bull markets. Our advice is to stay the course.
Before the last bear market, the Value Line Geometric topped out on July 13, 2007, some 66 trading sessions ahead of the S&P 500.
The Russell 2000 also topped out on July 13th and failed to confirm the S&P 500 when it made its final sortie into record high territory in early October of 2007.
Note the all-important Advance/Decline Line was even earlier topping out on June 1, 2007, some 90 sessions ahead of the S&P 500.
The bottom line here is that it is still too early to draw any conclusions. It would be highly constructive for the stock market’s prospects to see all of its segments get
back in gear. We are not ruling this out. In fact, with our models in a highly positive mode, this is exactly what we expect to occur in the weeks ahead. As we said last time, we have yet to see the speculative excesses that historically take place during the final stages of bull markets. Our advice is to stay the course.
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