Yes, as I stated earlier, I think the S&P 500 will move higher and trade to, at least the 1,776 level. Not only has this potential move been confirmed technically and via the demand dynamics on the upswing, but also by a turn up in the Price/Volume Diffusion Index... shown below
Price/Volume Diffusion Index
I had thought that the recent stall out in the measure suggested that it would turn lower. My thesis was blown out of the water with the increase in price on an expansion in total volume. All together, I think the market is going higher in the short-term.
However, all is not right in the country of Denmark. The summation index, not shown, is showing weakening momentum trends, as the slope of the summation index has turned down.
Slope of the Summation Index
This suggests to me that the underlying strength is weakening. Stay nimble.
Price/Volume Diffusion Index
I had thought that the recent stall out in the measure suggested that it would turn lower. My thesis was blown out of the water with the increase in price on an expansion in total volume. All together, I think the market is going higher in the short-term.
However, all is not right in the country of Denmark. The summation index, not shown, is showing weakening momentum trends, as the slope of the summation index has turned down.
Slope of the Summation Index
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