Richard Russell on King World News: “Lowry's Buying Power Index has risen a bit and their Selling Pressure has dropped noticeably. This means that there is less supply overhanging the market and the willingness to buy has increased. On top of this my PTI has been climbing steadily due North, and as I've always said, my PTI is smarter then I am.
"In the face of improving economics, Joe Granville's on-balance-volume figures remain bearish, and Joe is looking for a wicked summer. The dividend yield for the Dow is 2.51%. deep in overbought territory.
"After years of outperforming stocks, gold is now weakening on a relative strength compared with stocks. The chart below shows the ratio of stocks to gold. After plunging in July in favor of gold, the ratio has been surging higher in favor of stocks over gold."