Breadth holds in some areas.. Possible bottom $study

Our breadth did some key holds, but all rallies remain suspect until we see our longer term trenders turn bullish.

 

Our Zweig is reaching for the 40 level and we are hoping we get there.  It makes calling a bottom much easier.

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Our CVI is looking pretty bad, we would expect a bounce in here soon though.

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We like the waning momentum on the 40 DPI and the current hold just shy of 35.

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Ditto for the NH/NL indicator that shows a slowing of new lowsimage

Our longer term trenders, the McSI, continues to signal bear:  Helen Miesler from The Street did a nice piece on this indicator and did some math look ahead and thinks this can turn in a few days.

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It would take a miracle not to break this bottom here today, but we would be very impressed and extremely bullish if we bounced off this.

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