Good morning, weird day yesterday where we saw the markets give up half of their gains.
Breadth remains overall bullish despite the scary afternoon sell off. We are heading into jobs number which has the capability of igniting the second stage into the summer or driving the rocket into pieces over the Pacific.
Zweig should improvement. We think it should snake its way over the 60 line sometime this week.
Our CVI has broken out above the top trend line, that is bullish.
The 40 DPI, which to re-iterate we think is heading to the 80 area needs to clear 60.20
This is what we are talking about on the NH/NL indicator yesterday. We want to see this chop around in a tight range.
Our McSI indicator continues to “Sing we’ve only just begun”. BTW, Freedie Allen was the original recording artist for that song. The McSI is just covering. http://www.youtube.com/watch?v=bidSi9Ak4gU
Our 4WNH/NL also remains bullish.