We could not hold a follow through day as the markets sold the highs hard based on continuing Europe unraveling news.
Our Zweig did manage to hold above the 40 level, completing Day 1 and starting Day 2 today. If we can not pick up and run hard today we should be back in oversold sub 40s. A little sooner than we expected.
Our CVI turned back to negative:
Stocks above their 40 DMA did manage to improve however. That is a green chute for the bulls.
But the NH/NL ratio is a disappointment for the same species.
And as for our trenders, they continue to stubbornly remind us the danger of calling bottoms: