Here’s why current breadth favors the bulls
Dynamics Mix It Up: Godzilla versus Mothra?
There’s a battle of oversold (breadth) versus overbought (TRIN) worthy of the
Japanese horror flick superstars today.
The three day MA of the TRIN is at 0.68, the lowest it’s been since May, and the
10 day moving average of NYSE breadth is at -721, its lowest value since March
of 2005. TRIN10 is at 1.11 and heading south. I’m inclined to give the benefit
of the ‘push-back’ doubt to the bulls here, with the caveat that the 20 day
moving average/central Bollinger Band would be logical decision-zone territory.
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