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 of higher prices over the next few months. The last Zweig breadth thrust was March 17th, 2009. We will watch this over the next 10 days to see how the indicator performs.
