From the link:
The NYMO, despite the current bearish pattern, just did something that is normal in bullish times and is at least a glimmer for a another leg up. It has dipped to the zero line three weeks (15 trading days) from its low. Three to four weeks into is normal for a twelve to fourteen week McClellan Oscillator cycle; it happens all the time in bull markets. Could this be a hint this is the week to try for more upside? A bit of relief, a surge of hope for the bulls? Maybe.
I’ve said before any time 40 or more of those stocks on the nifty-50-stock list are on sells that is either the bottom of a swing or the beginning of the bottom of the swing.
…like the glimmer on the NYMO, there is a glimmer here also. The stocks on sells has been under forty for three days (there is no four days on this chart), and for the past two of those days it’s been slowing slogging its way higher.
Monday will be important but I’m going guess… The market is going to pop and take a leg up for at least a couple days this week.
For more discussion and two charts:
MARKET TIMING THE NEXT LEG UP?