We are starting Day 6 in the slow spectator sport of watching for a Zweig Breadth Thrust, a rare bullish signal that occurs when the average of the NYSE A/D line moves from oversold to overbought (40 to 61.5) in a ten day period.
Yesterday's NR7 gave us a step back, today needs to really put the pedal down. The numbers are setup over the next few days to give the bulls a chance and they need to buy.
As long as our breadth charts are making higher highs and lows I feel ok about the price action. So a quick chart check here and the CVI's highs are higher but just barely and that needs watching…
Our 40 DPI is developing nicely..
The New Highs/New Lows ratio is a great chart and that is looking good in here.
The McSI is our slow boat and no sign of turning. That would make us a bit more bullish.
We are getting some chop in the 4WHL indicator. The bulls need to move else we will retest the lows.
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