It is not suppose to be like this. A trend should set up and go, but this market is being yanked back and forth so much that the trenders are having a hard time getting in and staying a course. Today our trending indicators are firing full bull. We still think the market is losing some momentum so we remain cautious.
The Zweig is needing to break the 57 area:
The CVI needs to get above 60K.
Our 40 DPI broke the upper lower high trend line, that is good for the bulls:
And what do I think is the most bullish of all? The NH/HL indicator remains very strong:
Which brings us to our trenders that have aligned to the bulls’ side: