Zweig in now at oversold. 67 Trading days to cycle

Yesterday’s terrible A/D line combined with the week of weakness has put the Zweig into oversold mode where it hasn’t been in 67 days trading days..  It is at the bounce level but with Thursday’s extraordinary price action an opening  sideline stance is probably a good call.  Wait and see what the volume sentiment is before picking your direction.  The swiftness of the Zweig fall has not been seen since the Oct/Nov 08 market crash.

Tags: Daily, Tweet

This entry was posted on May 7, 2010 at 6:34 am and is filed under Zweig, Zweig Thrust. You can follow any responses to this entry through the RSS 2.0 feed.