3 replies to this topic

[Porter]

Monthly Trend Value 2 (mixed) Weekly Trend Value 2 (trading range) Daily Trend Value 8 (trending up) 45-minTrend Value 7 (weakly trending up) Turtle Trend (LT) 2 (mixed) SPU Trend ..........Q......M.....W.....D.....45' SPU....U......U......U.....U......D Value..2......1......1......2......1 ------------ SHORT TERM TRENDS Opening Range Trend Daily--Up Weekly--Up Monthly--Up Globex 45-min Trend Up 135-min Trend Questionable ------------- Keltner Band Trend 10-day Up 7-day Neutral 2-day Neutral ----------- Moving Average Trend Mason-Dixon (NDX 200H) Up Gator (SPX 13D+8) Up Mallory (NYA 49D) Up SB (SPX 75D) Up Chandelier Trend Zweig (MID5%) Up Stox (NAZ9%) Up Junk (ML1%) Up --------------- Intermediate Momentum Indicators NY ITBM Up NY 10D NH% Up ND 10D DEAD Up ND BP RSI Up NY Vol McSum Up ND Vol McSum Up Comments The Nasdaq Chandelier trend turned up. Porter

[Echo]

Hello Porter, MID closed strong up today and up for May and June on a monthly basis. In fact, only month down in recent hx is April. Broke above DTL. Upmove seems impulsive. What are your thoughts since MID seemed to be the main thorn in your side? Thanks. Echo

[Porter]

MID closed strong up today and up for May and June on a monthly basis. In fact, only month down in recent hx is April. Broke above DTL. Upmove seems impulsive.
What are your thoughts since MID seemed to be the main thorn in your side?

The MID and RUT are showing strength.
IMO we need to see weakness and then a failed upthrust in these indices before an Intermediate Top is formed.

Porter

[Porter]

When I posted the previous message I thought that the MID might turn the Weekly trend Up this week. Today's action shows that it will not. That makes price action a failed upthrust. And that is bearish. Porter