TRADING DP

[TREND1]

11/25/16

Ultra-Short-Term Indicators: We are still seeing elevated readings on both the CVI and Participation Index - UP. This continues to suggest a buying exhaustion is in the works, but we've been anticipating this exhaustion for quite some time now. I believe it is still valid. The VIX seems to have plateaued which also could suggest a buying exhaustion.


Conclusion: It is unusual to see a sustained rally with no real pullbacks. I'm still looking for a return toward previous all-time highs around 218.50 before the next upside move based on intermediate-term bullishness and short-term bearishness