Trading with an Edge
We have an improvement in a couple of the breadth indicators, but the others remain in the dangerous overbought region. I don’t think attempts at the highs are over yet.
Our Zweig showed a slight tick improvement yesterday:
As did the CVI (Cumulative Volume Chart):
The 40 DPI, however, continued to show weakening:
And our NH/NL is all done for now me thinks:
The Trenders remain in the bulls’ camp:
Tom Malone, born in the Midwest, started trading corn futures in the '70s and then went to work with Metropolitan Life Insurance before entering postgraduate work in Florida. His interest in trading deepened when he was given the rare opportunity to work with the legendary Dr. Martin Zweig and the famous Zweig Forecast for two years. To this day, the Zweig Forecast is renowned as the best newsletter in history, and we all mourn the recent loss of Dr. Zweig. Tom's trading has been broad with experience in every commodity traded, but his love is the U.S. stock market and stock picking and market timing. His calls on the market are legendary and in 2007 he was called "the greatest short-term market timer of our generation" by Mike Burk. who has seen tens of thousands over the years. More recently Tom got the trading group leveraged long on Oct. 4, 2011, for the launch of an epic bull run and what may be a new secular bull market. He also runs several unique trading programs that have helped many beat the market.
