It is beginning to look like we are putting in another bottoming process.  As the news clears the air on the US Debt ceiling debacle, technicals will become clearer.

Turn around Tuesday may get us some bullish scores today.  This gap down open will make it hard for the new highs.  Should we see them come in go long friends.  The NYSE put in a one dayer higher.  The RUT and Nasdaq have a 3 day streak going so breadth is improving.

The 10 day chart is almost identical to the 52 week new high chart, but easy lane for this chart for the bullside that is, doesn’t start until tomorrow.

This chart needs a turn and run.  The NYSE has turned, the Nadsaq is making a little progress but the RUT still lags.

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A slight turn to the bearish side for Breadth.  The 10 Day indicators are all showing bearish signs despite starting what should be a 5 day bullish cycle.  If the bulls can’t pull it off in the next two days gravity will begin to do its work.

The 52 Week new highs all put in stronger daily bars which kept the indicators at neutral, offsetting the 5 day cycle weakness.  

The 10 DHL is the weakest of the indicators and continues to roll to the down side.  A bullish 5 day cycle start was missed today, but there is always tomorrow.

The 50 DPI stayed neutral despite higher prices which should have pushed number of stocks trading above their 50 DMA up.  Not so.

Video: How to interpret 10 Day Highs minus Lows

Download: StockFinder  5.0 10 DHL code

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Watch this short 5 minute tutorial about this utility indicator ;