Day 2 for our Zweig wasn’t so bad. With the large gap down in the morning we had expected the Zweig to return sub 40. Not the case with the afternoon rally and day 2 of the Zweig leaves us sitting at 43.82. It will require some very strong days to push it to its goal, like some really good 4:1 NYSE type days.
Our CVI now has two green days in its pocket.
NH/NL’s are disturbing. This needs a to establish an upside trend of higher highs and lows. Yesterday was a set back for our NH/NL chart.
Our trenders should be turning here. For you re-testers, that first green day is a chance to short for the bottom again.