Trading with an Edge
The market just hangs between 1 and 2% below the most recent highs. Pullbacks have no follow-through, that keeps the breadth in a bullish waiting pattern.
The Zweig has a favorable bounce pattern:
The cumulative Volume index is struggling with trying to break out to new highs, but it does indicate to us there is still buying in this market, or a lack of selling.
The 40 DPI wants to move higher, it has appeared to have bottomed.
Our Trenders remain split between bearish and neutral:
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.
