This massive one day reversal has us 30 points above the 1350/1355 top we talked about. The 1384 extension level was hit so price should be exhausted, but the bulls did a lot to repair breadth.
Our Zweig did not get to the 40 level we wanted it to before putting in these thrusts.
We shouldn’t go straight up from here, we need some back testing:
The 40 DPI has yet to break the trendline and put in a higher high.
This is the chart that was signaling us a warning that the bulls might not yet be dead:
Our trenders remain mixed with one Neutral and one Bullish: