Market Overview

While the Market is Anemic, Breadth Remains Strong

We are looking for a decent bounce out of this consolidation from what was a terrific run from the bottom.  Watch for the 50 area to hold on the Zweig  and today may even be that bounce day.

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It is this CVI that needs to get us 100% bullish, why is there always some red flag?  It is here in the CVI with the ability to get above that 69K number.  There is nothing significant about the number itself, it is just a number higher than that beginning of November reading.  That is the technical level we need to surpass.

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I will put arrows on the 40 DPI so you can see the difference:

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The New Highs/ New Lows are certainly looking to me to be setting up for another sustained upside run.

 

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Our trenders also remind us to stay with the sign of the Taurus.

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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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