Our breadth took a nice bounce on Friday with a really strong day that looks to us like a significant thrust. While we were bullish on Friday, our shorter term 10 day look is somewhat bearish based on how oversold we achieved before being bought.
We would like to see the Zweig get oversold one more time and then start a nice rally into the last 5 months.
CVI is just mimicking price at this point.
The 50 DPI made an upside move:
Our NH/NL did not violate the 40 number so for this indicator, the uptrend remains intact.
While our trenders both returned to green based on Friday’s action, it needs follow through to regain the bullish rating, for now it remains neutral: