The Zweig is showing a decent bounce, should that get high enough and scare out the shorts here, we could get close to a re-test of the highs.
The CVI is looking a little suspect here. It needs to really get moving over the next couple of days if the bulls are to gather some acceleration.
The 40 DPI is also slow out of the shoot with the weak opening, this is due to the weak close.
Our Trenders are split with the McCSI remaining bearish and not budging from that and the Cum-NH/NL just looking fine, but watch as that 15 DMA catches up… Getting close. A good cross there on weaker breadth and we are screaming “TIMBER!”.