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Martin Pring's Take On The Intermediate Trend

The intermediate KST [momentum] for the S&P continues to move higher and is moderately overstretched. The good news is that the intermediate health indicator, which measures a basket of Dow stocks experiencing a positive KST, is still rising and it has a consistent record of leading the KST itself.

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Finally, some measures of sentiment are flashing warning signals. Chart 17, for instance, measures advisors looking for a correction less those who are bearish. The raw data are published by The recent high reading is not necessarily the kiss of death, but does point up the probability of a sideways or mild correction.

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- Martin J. Pring - April 2013