$NAMO weekly chart is showing a strong bounce from the Jul 15 low showing 45 after trading to 56.38 High. This is the case after very oversold markets. Commented on this chart during Oct 2005 low. Reviewed all breadth charts. Breadth charts are showing positive divergences on weekly. I noted A/D showing relatively positive activities during the last week.
$NYSI weekly chart is showing the recent bounce since Jan-Mar 2008 low to May 2008 high, positive divergences compared to the Oct 2007 peak as we can see higher $NYSI peak than the Oct 2007 peak. Also the Jul 2008 low is relatively high than Aug 2007 low.
$NASI weekly chart is showing similar technical readings even though the peak of May 2008 didn't surpass the Oct 2007 peak. Nevertheless, it is showing posive divergence.
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