After i time once again topping out ahead of price--a mutual pattern--my short-term mensurate of marketplace momentum (bottom chart) has moved to neutral territory, simply is inward a higher house the levels that accept been of late associated amongst marketplace bottoms.
We're likewise seeing novel 20-day lows amid NYSE, NASDAQ, too ASE stocks running ahead of novel highs. Note how novel highs vs. lows lagged significantly at the recent cost highs. As long every bit novel 20-day lows piece of occupation past times novel highs too short-term momentum is weakening, my opinion on the marketplace is defensive.
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