The breadth looks good, those new high/new lows remain extremely high, indicating to us that buying at the top continues. Watch for PM selling as a sign of rolling.
Our Zweig is at a higher high after setting a double bottom. Nothing bearish about that.
CVI – Higher High:
Our 40 DPI is making a recovery, but still just a little divergent, as it should be.
It is the NH/NL indicator that we are watching like a fisher cat. It remains in the bull ring.
Our trenders are fully on board the bull wagon but near the chop line which means just two bad days and we could be putting on the fur coats.