One should note that often crude will top out a week or more before the stock market, but a short-term top in oil will increase the odds of a short-term market top.
In 1998, after the top long term rate on capital gains was cut to 20%, the top 400 paid 22%.
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The new higher 20% capital gain rate plus the 3.8% Obamacare tax makes a top long term capital gain rate of 23.8%.
According to an Internal Revenue Service study, back in 1995, when the top long term capital gains tax rate was 28%, the 400 taxpayers with the highest reported incomes paid an average effective tax rate of 30% of AGI.
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Legislation to require cost basis has been introduced in both the House and Senate--although those bills don't go as far as the administration's proposal, which would require brokers to track holding periods so the IRS can check up on whether your gains should be taxed as short term (at a top rate of 35%) or long term (at a top rate of 15%).
That signals a short-term top in the gold market and modest correction and or consolidation near term.
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This confirmed the negative divergences in the RSI, consistent with the completion of an intermediate-term top.
This, in our view, would represent an intermediate-term top, with a 10% to 15% correction during the second half.
The two consecutive lower closes have violated the daily uptrend, line c, suggesting a short-term top may be in place.
The McClellan oscillator has now formed a short-term negative divergence, line c, which is consistent with a short term top.
In that interview, he told me that gold, which was currently rallying sharply, typically forms a short-term top at beginning of December.
Before a short-term top is complete, we would normally expect to see one sharp pullback and then a rally above the prior highs.
This added to the evidence that an intermediate-term top was forming.
Vennegoor of Hesselink is out, as is leading goalscorer Samaras, and Scott McDonald, the club's top scorer last term, has yet to rediscover his Midas touch.
But far from the mass ruination envisioned by these proselytizers, most of the long-term top-performing investment letters are using the panic to find great buying opportunities.
Immigration legislation is a top second-term priority for the president.
The four-month divergence suggested an intermediate-term top could be forming.
This divergence warned of the short-term top in early October.
Obama, who's embraced immigration legislation as a top second-term priority, also praised the Senate bill Tuesday even though it is stricter in some areas than his own approach on immigration.
Neilson's long throw-in was missed by David Obua and Driver stole in unmarked to nod home for his fifth of the season and become the club's top scorer this term.
If the stock market completes a short-term top in the coming weeks, as it has in the past three years, it would allow for stock prices to get back in line with the economy.
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Also, we have seen some of the lagging sectors and forgotten stocks perk up. like Citigroup (C), Wells Fargo (WFC) and the solar stocks, usually a sign that at least a short term top is imminent.
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It is possible that the OBV will not confirm a new high for GLD in the next day or two, but a downside reversal would be required to indicate that a short-term top was in place.
In his first full campaign he took them to the First Division play-off final, where they lost on penalties to Birmingham, and after missing out on the top six last term, it has been wall-to-wall success this time around.
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McGhee, who spent four years playing for Celtic in the 1980s - following a six-year stint with Aberdeen, has long been touted as a candidate, although his Motherwell side could not repeat last season's feat of European qualification and missed out on the top six this term.
The current top rate on long-term capital gains is 15%, and the top rate on ordinary income such as interest and salary is 35%.
Without that extension, in 2009, the top tax on long-term capital gains will go back up to 20%, while the top rate on dividends will jump to 35%.
Oil bulls have faded badly this week to suggest a near-term market top is in place.
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That would be one early chart clue that a near-term market top is in place.
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That would be one early technical clue that a near-term market top is in place.
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