Market Overview

When Will You Call for the Bear Claws?

It is a funny business, as the markets drift lower we continue to stick to the bull trend call, which is now just starting to show signs of falling apart.  We hate to give up a trend on such a slow week that is terribly driven by short-term, emotionally based news.  Here's the thing (and we alluded to this yesterday):  we need an up day or two to really call the end of the trend.  The period at the end of the sentence in the trend change call for us is usually a move in the opposite direction where we can attempt to read the sentiment via the breadth of that move.  If it is weak, we throw the cards down and call for a reversal.  We haven't had that up day and bull run attempt yet. We currently have the bull trend under review and are waiting for some green.

 

Our Zweig is still ok:

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CVI is under pressure now:

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40 DPI is looking in trouble:

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Oh dear, our NHs/NLs is failing us, this is where we bounced last time:

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Both our trenders  are now turning and we are in neutral bullish, looking for an up day to read:

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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: Technicals Trading Ideas

 

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