I'm saying that my breadth model is now on a Sell. We'll probably see SOME selling fairly soon, but I suspect that this signal is going to be a false alarm. If you trade the model, though, you should take them all. It's a good model.
I don't have enough to make a strong case for selling of any import.
I also see nothing but air above if we break out.
Mark - I think multiple reasons show up that should give bulls caution here...
Cumulative ticks need to reset ideally through a 0 line test and since it is extremely overbought it has a looong way to drop.
The lack of 'structure' in the nysi advance lends no ST support for price when the selling commences, 'too far too fast' Fib?
Insufficient testing of buy support occurred at the nymo high (btw the highest nymo since before the '09 price lows) and this coincides with the initial Z breadth thrust signal which also has not seen a price retest.
All in all I suspect some rather pronounced market weakness from this area.