Another breakout. Don’t breakout the champagne…

Posted on Jun 20, 2017 by in Letters

In May prices broke out of a congestion formation.  But without a lot of enthusiasm -- although building volume should support the bull case.  Now after a fifteen day  mutated rectangle prices have broken out again.  Given the general character of the market one is a less than enthused, but the message of the chart is clear: buy and/or add to positions.  This case has additional evidence-- note the larger than usual volume.

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