I have been doing my daily countdown to see if we could get a Zweig buying thrust from the oversold to overbought area (it needs to travel the distance in 10 day to be official). We still have one more day left but mathematically now it is impossible. If we were to get all...
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We took another breather today and the index is going to need on more rally in the next 3 days left to get up and over the 61.50 level and generate the 2nd thrust signal of this rally. What the heck is a Zweig Breadth Thrust?
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![Zweig Watch – Day 4 – Bears are getting nervous $SPX [chart]](http://www.redliontrader.com/wp-content/uploads/2010/07/image_thumb47.png)
We finished day four of the thrust with a ZBI (Zweig Breadth Indicator) at 58.60 closing in on the overbought value (61.50) necessary to complete and tag the current price performance as an official Zweig thrust. As a reminder, this is what the March 9th, 2009 thrust looked like on day 4: Then once...
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We are in an Zweig Breadth Thrust watch which is a 10 day window and we are now working on Day 4. This is the current status as of noon EST. What the heck is a Zweig Breadth Thrust?
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Pretty close there.. better than the last attempt before stalling out. We still have 7 more trading days to prove it out.
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There is a divergence today from Zweig Breadth indicator
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![Zweig Breadth is right on oversold and turning flat – $SPX [chart]](http://www.redliontrader.com/wp-content/uploads/2010/07/image_thumb13.png)
The Zweig breadth closed the week out on the oversold line waiting to move one direction or another.
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We do have some improvement as the bulls attempt to stitch together a bottom from the previous 4 day slide. A bounce in here would typically takes us up just a little north of 55.
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I owe everyone an update on how the Zweig Breadth chart is performing. I was all hot on it when it was setting up for a thrust but now that is over and we have fallen back I have sent it to the back of the stack. Since hitting the high on 6/15 in...
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The Zweig Breadth Indicator (ZBI) finally made it to oversold. We had a rare thrust watch a couple of weeks ago but it needed to make it from oversold to overbought in 10 days and it got a little lost along the way but it finally made it there taking 14 trading days to...
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