A snippet from this week's "Weekly Breadth Data" update:
"Another bullish piece of information is that it only took 5 trading days (out of 10 days max) to produce a classic EMA Zweig Breadth Thrust buy signal on Friday. Since 1928, this is only the 24th time we've had such a signal though the results have been evenly mixed. But as Tom McClellan noted back on the last signal this past April: "the idea is that when there is such a signal, it is a sign that a rapid surge of money is trying to push its way through the door to get into the market, and this is a <signature> of continuing liquidity to fuel an uptrend."
In any event, as technicians we must respect this kind of information for what it may imply until proven otherwise.
Edited by fib_1618, 06 November 2023 - 03:01 PM.