Day Eight today for the Zweig Thrust countdown. Yesterday we did make some progress after two days of moving in the wrong direction. We had moved to 7 away, but gained on that yesterday and we are now just 4.7 away with a nice gap up as I write. A 2:1 today on the NYSE and I think we have it in the books and I would have shared by second thrust with the TTTHedge.com trading team. That will be historic.
Watch the A/D lines today and see if we can hold. Day T-10 was a weak day so we get the advantage of dropping a weak day out of the 10 day average and adding strength. The bulls will need kissy face from the hill to pull it off.
The CVI is our biggest worry here as up volume is not accumulating as fast as we would like. We want that triangle to break to the upside:
Like yesterday, the 40 DPI we like much better:
The NH/NLs are looking pretty darn good:
And our trenders are darn right perfect with a 15 DMA cross of the McCSI and a close on the NH/NL cumulative index. That would be exciting too.