Breadth still showing that this is a counter-trend move in a bigger upside trend, that hasn’t changed. Both Trenders now are sitting in the neutral camp. We expect price to still show some upside reaction.
The A/D lines were pretty poor and that has driven the Zweig down to the 47 region. It should be bounce time from here.
The CVI is looking good for the bulls for a bounce:
The 49 DPI remains a problem:
We would like to see these levels here on the NH/NL preserved:
Our trenders are now both neutral, but the cumulative NH/NL actually had a nice day yesterday and is triggered to go bullish if we get some positive movement today.