The ZBT reversal thrust developed by Dr. Zweig is hanging out below the traditional overbought area indicating that while price is going up it is not doing so on overly strong advance/decline lines. This is a healthy bullish reading indicating we still might have more upward price movement.
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Our Ned Davis/Zweig simple 4% mechanical system is now up 16% from the Sept. 3rd entry. If you are interested in the system you can read more here: Davis/Zweig 4% system If you would like free updates on the system.. register on the website you can register for free on the right...
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![Zweig Breadth indicator hit oversold on Friday, 3 days too late for a thrust.. but still bullish $spx [chart]..](http://redliontrader.com/wp-content/uploads/ZweigBreadthindicatorhitoversoldonFrida_B301/image_thumb.png)
For an official Zweig thrust we need to move from oversold to overbought in a 10 day window. That signal when it happens is a starting gun for a 12 month bull market.. Missing by 3 days does sustainably take away from the bullish predictability of the run, but it remains a bullish accomplishment ...
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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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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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The Zweig Breadth Thrust indicator is an overbought / oversold indicator designed by Dr. Martin Zweig. The indicator represents the percentage of stocks that are advancing on the NYSE. An reading of less than 40% of stocks advancing represents and oversold condition, while a reading over 61.5% is overbought. The percentage number is...
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