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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Zweig
Zweig Breadth mid-Day on Monday showing anemic improvement
Zweig chart update -
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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Zweig Breadth indicator goes to overbought.. $SPX
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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Zweig has lost its way..
The Zweig thrust we were looking for is now very doubtful. Wednesday is the cut off date and three times we have not been able to get above that 55 level. It would take a market memorable event over the next three days to get us there but for now it looks to...
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Day 5 of Zweig Thrust watch II – Halfway there
Wednesday’s advance decline line helped correct the direction of the Zweig indicator and puts it exactly halfway to the overbought area. There are now 5 more days left in the watch period which ends on Tuesday June 8th.
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Zweig Update.. Lost in translation
I have received several requests for a Zweig breadth update. Here is the chart from Tuesday’s close: We are now 5 days out from the exit of oversold looking to reach the overbought area now by Tuesday of next week in order to confirm a breadth thrust.
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Where is the Zweig Breadth Thrust?
Remember our ZBT count down. Well we are 6 days now into the 10 day count and here is where the Zweig sits: We have folded down from the 54 area making the characteristic second bottom on the pullback. But in order to count for a rare thrust we must in the next 4...
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Zweig took a slight detour today.. still 6 days left .. $SPY
Price wasn’t strong today and the Zweig Breadth indicator took a down turn. There is still plenty of time to get to that overbought area, we would expect to have a follow through day from today and then head back up.
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Day 3: Looking for a Zweig Breadth Thrust..
Seven days left and Wednesday did not disappoint closing the indicator above 50 which is the halfway point to overbought. So far very clean looking thrust.
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Zweig breadth indicator bounces out of oversold..
The Zweig breadth indicator today for the NYSE rebounded hard from its oversold condition back into the neutral area today. We will now either retest the oversold or continue up to the overbought area. An overbought reading in the next 10 day puts in a rare Zweig breadth buy signal indicating a high probability...
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@redliontrader
- Flat today in a tight range. If we do follow through to the upside, reset the bull clock back to zero and ride ... http://t.co/4Ambedob
- Breadth beginning to mark the exhaustion recovery area. $study http://t.co/dTqZsHgQ
- Let’s hear it for the bulls.. let’s give the bulls a hand $study http://t.co/OpXuaLXj
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