Breadth Remains Bearish, Looking For a Zweig Oversold Here Soon
What a tease. We were so bullish going into mid-Fall that we can't quite get our Zweig to get into that oversold area that, technically, we think it needs to get into. It has been too long not to get there and satisfy the sellers and entice the buyers.
We do have a good enough move on the CVI that we would expect some oversold rally over the next couple of days:
The 40 DPI is also breaking down for us:
The bears need to show they mean business by breaking the 40 here on the NH/NL Indicator:
Our trenders have both settled on bearish:
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.