Market Overview

Breadth: Well, Well, Well .. What Happened While I Was Gone?

You take four days off during a potential breadth thrust and you miss a lot.  When we left off, our story was in chapter 51 needing more than 10 to get into the elite thrust zone.  Black Friday had other ideas with two Euro/Asian trading days of bullish support the markets have zoomed up and so has the breadth thrust.  We are Soooooo very close now, just two to got. 

Our Zweig is sitting at 59.67, less than 2 away from target.  A 2:1 NYSE day today I think could seal the deal, so if the bears are sufficiently trapped with what is an effective +10 handle gap from Wednesday we could get our thrust.  That would be historical and one of the fastest thrusts ever.   This is getting exciting.

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Our CVI is in bullish reversal mode:

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The 40 DPI is telling us to buy dips if we get any:

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Our NH/NL indicator has recovered:

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The trenders have begun to snort:

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The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Markets Trading Ideas

 

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