TRADING DP

[TREND1]

11/30/16

Ultra-Short-Term Indicators: We're now seeing negative readings on the CVI and Participation Index (larger than positive readings). They are not at all climactic, but I do think they speak to very short-term weakness. The VIX topped and that generally occurs at price tops.




Conclusion: Short-term indicators have been suggesting a weak rally and possible reversal almost since this short-term rally began which is of course, very frustrating. It does appear however that weakness is being revealed with price closing below the 5-EMA. Given the very positive configuration of the monthly chart and intermediate-term indicators, I am looking for price to find support quickly, likely at previous all-time highs.