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[dTraderB]

On Fridays, we have been updating today's chart and saying that the most important market test of the past two months was facing the market.

Based on its improvement, we decided to post an update on the chart today. Note how the market Strength has behaved on our C-RSI, 30 day indicator. It has been in a down trend since April, and it has been in Negative Territory since the end of July. That translated into a DOWN condition for the market during the past few months.

So, is anything happening on the positive side?

Actually two positive things have occurred so far. Last week, the C-RSI indicator moved up above the black resistance line which was a positive.

The second positive was the the C-RSI went into "positive territory" last Friday, and it has remained positive for three days in a row now. That is the first time it has been positive for more than three days since last July. So progress is being made and the short term bias is positive.

What now? Now, we need to see the C-RSI move above 5.0 for some real noticeable traction in the market ... and that's the next challenge.



http://www.stocktimi...arketUpdate.htm