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.

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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.

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The 40 DPI has us a little happier in that camp, showing the breadth of the bounce to be wide spread:

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We particularly like the NHs/NLs chart as it indicates that money is still buying into perceived quality, or at least popular quality.

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Trenders are all about the bull and want us to buy into these dips:

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