Price is now leading breadth with a breakout to the bull side. Our trenders remain mixed, one bullish the other has moved from bearish to neutral, that is a little upside confirming. For today the market needs a follow through in order to swing those breadth indicators into the bulls camp. That is what is needed if there is to be sustainable upside.
Our Zweig, while improving over the previous day, is still shy of the higher high.
Our CVI that had been lagging is now the most bullish with yesterday’s move.
Our 40 DPI however has stalled:
The NH/NL we used to predict a dip for yesterday, disappointed us with more upside. It is above 40 and needs to stay there now for the bulls.
Our McSI index has remained steadfastly bullish:
While our NH/NL 4 week cumulative indicator has gone neutral on us, a little nervous action the last few days: