Okay, so this week we have had two days where we had nice moves to the upside only to fade and we had two days with sizable moves to the downside which largely recovered. Thats sure feels like consolidation, and a little indecision as we move through earnings season.
Our momentum indicators are behaving quite nicely if you like the long side. Our all important slow momentum indicator has held up nicely this week and even ticked up today after flattening yesterday. Meanwhile Our fast momentum indicator looks like it has refueled and is ready to move back up while the moderate momentum indicator is drifting down for refueling. A nice snap back by the fast momentum indicator would launch a new leg up. Lets see what happens in the next couple of trading days.
29 of our 40 indexes/ETFs that we track are in positive TradeWinds territory. Only five remain in negative momentum territory.
Now check out our Top 25 lists and TradeWind Black Box results for today.
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