Remember this chart from last Friday?

We posted this chart on our NYSE Declining Volume model last Friday.

Last week, we commented on how this chart went back to July 2009 .... and that out of the past 8 market up thrusts during that time, this model has identified all 8.

The last up thrust was initiated in the beginning of April, BUT ... we ended last Friday's commentary with the following comments: "The last one (up thrust) was the beginning of April ... but, before feeling too bullish, take a look at where the indicator is now. It is during such times that pull backs occur and it during these times that investors should take cautionary stances or actions."

We hope that helped you last week in avoiding what has been happening this week. If you're not one of our paid subscribers yet, please give it some thought. Hope you have a great weekend, and I will see you next Monday.