We are still bearish in here, looking for lower prices and sentiment. We want that Zweig oversold to get us cocked and ready for a recovery rally.
The Zweig took the slightest reprieve on Friday:
As did the markets and CVI:
But our 40 DPI would have none of it as more symbols slipped below the 40 DPI. Now over 2/3 of the stocks are trading below that benchmark.
We have our first break of the 40-level on the NH/NL indicator. First time since June.
Our trenders remind us that we are bearish and looking for bottoming signals: