Score: –18 The bears certainly did their damage in a hard way, crushing the bulls right into the close. A 2nd day under the 50 DPI and the trend will reverse for us from bull to bear. All three now have downside momentum. The 10 DHL is to back...
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Score: –4 It is getting harder for the bulls and they lost some upside momentum in yesterday’s news fight. The NYSE did mange to put in a higher daily but the NQ and the RUT did not and the NYSE’s higher bar was not enough to keep the momentum line from falling....
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Score: 0 Any bullish scores from here on out need to be heeded. A difficult cycle is starting for them as the bars have all been raised. Bulls need another thrust, a good 15 point type SPX day. All 52 week new highs were weak. As were the 10 day...
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Score: +18 Congrats to the bulls for pushing back on bad news and putting in a perfect bull score on Monday. The performance of risk has us looking to the upside. All three put in higher 52 week new highs. The 10 day cycles again were up on all three. This...
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Score: +16 I wouldn’t be too quick to short this market. If the bulls can’t expand to the upside over the next two days the market may be ready for a pause. The RUT is still lazing off and we need to see some upside soon to keep the momentum up. The...
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Score: +2 4 days in a row on the bull side with the 50 DPI now officially bullish. Weaker Nasdaq and Rut may be showing some upside slowdown. All neutrals around on the 10 day cycles. That needs to improve today. Our 50 DPI as crossed for two days...
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Score: +18 A 500 point gap up day will do that for you. Not much to say except that the 50 DPI has moved above the bear bull line so today is follow through, needed to trigger us back in bull mode. We would expect a neutral to +6 day today. ...
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Score: +2 Breadth remained in the bullish side of the ledger, but the Nasdaq breadth and Russell breadth underperformed the safer indexes yesterday. That is not very good for a sustained rally. The NYSE 52 week new highs backed off, there is some type of rotation happening, not sure if it is end...
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Score: +8 So today is follow through day. Can they keep the momentum up for a 2nd day? The breadth action has been weakened enough to make scoring easy and a second day in a row gap isn’t going to hurt the cause. It won’t take much to get this chart turned...
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Score: –12 The light for the bulls is the NYSE which despite the pullback remains relatively strong compared to the other markets. Still waiting for some sign… Maybe a 30 point gap opening? This is the strongest of the charts because of the NYSE which now has a positive momentum move. ...
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