Score: –4 Friday’s breadth ended up on the negative side. The NYSE on the 52 week new highs has turned bearish. That needs to correct. A negative score on the 52 week new high will underscore today a possible top in place. A prolonged top most likely. They cycles turn...
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Score: +4 The bulls managed to squeeze out a new high on lower 52 week highs, but the 50 DPI held in as did the 10 day cycles. Our lower price prediction seems to be needed to extend another day. Lower 52 week new highs all around. The 10 Day cycle,...
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Score: –6 Weaker breadth has made us bearish in here for a few days. We will need to see some negative breadth follow through. 52 week new highs we kind of expected to see as neutral today after such a large move up on Tuesday. We would expect another 10...
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Score: +14 We will watch the 50 DPI closely today for signs of some early profit taking at these levels. We think this might just be our exclamation point we have been writing about. Nice, question is can we add to the pile. The 10 day cycle is a little...
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Score: –6 Our NR7 yesterday put the bears back on the score board, but the gap open today should resume the upside momentum we witnessed last week. FOMC and OPEX should make for some interesting action today. Our 52 week new highs reached their momentum goal, maintaining last week’s upside momentum but...
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Score: +12 Friday was about as good as it could get for breadth. The momentum on the 52 week new highs are back to bullish and the next two days, particularly tomorrow is favorable for bullish scores. Perfect on the 52 week new highs. We are looking for a cluster now...
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Score: +4 The bulls converted the day’s before neutral score to a bullish score and set the 10 DHL onto a positive cycle. Bears better be cautious here as this could move quickly to the upside. Two in a row on the 52 week new highs. The 10 DHLs...
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Score: +0 The bulls managed to stop the bleeding, now they need to start stringing together some positive scores. 52 Week new highs bottomed, at least for a day. The ten day cycles should be the first to put in a bullish score. We would expect the Russell to lead...
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Score: –18 We had been skating on thin ice for about 15 days and the markets broke through yesterday. 52 Week new highs almost disappeared, and while today starts an easier cycle for the bulls, the damage done yesterday really restarts a 5 day cycle of which the next 3 will...
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Score: –14 The bears continue their streak of bearish scores which starting tomorrow will become increasingly difficult to maintain as bar get raised higher and higher. Watch the Russell for any signs of a bottom to the current correction. We think the Russell will be the first to turn momentum around...
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