As shown by the chart below. The system is now flat with the Volume Ocs above my proprietary while the (non ratio adj) McC Osc is still below. For a sell or a buy, both volume and breadth (McC) must be either above or below my proprietary. So no new positions are being taken as of yet.
However, we may be very close to a new short position. But comfirmation will be required for me to initiate such a position. Comfirmation I do not have yet and if you view closely the above chart of the system update, you will notice all the indicators (Vol, McC & Proprietary) are trending up, even in the short-term.
In that last update, I illustrated some of what I was looking for in a chart before a potential top may be at hand and I also hypothesized a rally with a top near 9890. It is interesting that today's high was 9896 (cash print basis).
The chart below illustrates the fulfillment of what I was looking for.
The shorter term chart also illustrates the bearish divergence and includes a possible Elliottwave count
Good luck,
