There is a special post just about the Zweig today which you can read here: http://www.redliontrader.com/zweig/breadth-our-zweig-is-slip-sliding-away-day-7-and-now-7-points-away/
We remain cautiously optimistic that the bulls can stretch one last time here and get that 61.5 in the next four days. The next four values dropping off the 10-day average are very weak, so a great day addition with a weak day drop can really pile on the points. We only need 7.
Not much to say about our CVI. It is a little weak, and we don’t like that the accumulating volume is so light. We would like to be in the 65’s than 62’s in here.
The 40 DPI has us a little happier in that camp, showing the breadth of the bounce to be wide spread:
We particularly like the NHs/NLs chart as it indicates that money is still buying into perceived quality, or at least popular quality.
Trenders are all about the bull and want us to buy into these dips: