We managed to put ourselves from bullish to neutral on yesterday’s price action. The market is all about news today so throw out directional information until we see the reaction to the NFP. It is appropriate that we hang in neutral today. If we do not get a positive bounce, breadth will most likely have us bearish for Monday.
Our Zweig is at a bounce point today. If it doesn’t all is not well for May.
Our CVI is right in neutral.
The 40 DPI is calling for a bounce.
The McSI has gone neutral on us.
The 4WHN/NL is still in the bullish camp, but just.