Info!! Indicator Update For November 3Rd

Last week's indicator update noted that "While I'm making banking company complaint of the divergences amongst honor to the release of novel lows from ii weeks ago, plenty stocks proceed to acquit inwards weak ways to brand me desire to encounter confirmation of fresh buying involvement earlier taking intermediate-term long positions inwards stocks." We did, indeed, larn that confirmation of buying involvement this by week, every bit strength inwards the Cumulative TICK line in addition to a positive plough inwards coin flow led to a breakout motion inwards stocks that was sustained into week's halt on solid buying interest.

On Friday, nosotros saw the own occasion inwards which stocks making fresh 20-day highs notably outnumbered those making novel lows (data updated each AM earlier marketplace seat opening are non overbought on an intermediate-term basis.

Thus far, I'm viewing the electrical flow marketplace seat activity every bit utilization of a larger bottoming designing that began amongst the momentum level out inwards mid October. It is non at all odd to encounter such bottoming arrive at over a menstruum of weeks if non months next meaning declines; this was the instance inwards 1982, 1987, 1990, 1994, 1998, in addition to 2002. If that is the case, nosotros should accept problem vaulting in addition to staying higher upwards that M grade inwards the S&P 500 Index. I volition move watching the Cumulative TICK in addition to sector trace carefully to handicap the odds of an upside breakout versus a motion dorsum into the middle of the recent, broad trading range.
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