We still think we could get a little bit higher, but we are not liking the underlying breadth here as we climb. The framework to build a new high is getting weaker and weaker.
Our Zweig hooked back down yesterday as the closing rally did little to correct the broad based markets’ day long weakness.
A green tip on the CVI but not able get higher:
This one is telling, a test of the lows. We are getting indications that the foundation is starting to wash away.
The NH/NHL is still in trend-up mode:
Our Trenders continue to send mixed messages: