TRADING DP

[TREND1]

2/3 Ultra-Short-Term Indicators: The CVI and Participation Index - UP both had climactic positive readings, the quest is whether it is an exhaustion of the rally or a breakaway gap initiating higher prices. This was a tough one for me, so I went to my default "rule" that the climax is determined by the previous trend from the last climactic reading. In this case that would be a declining trend, so this should be an initiation to higher prices. As I told my webinar viewers today, don't get too excited. These indicators tell us what to expect in the next hours to days


Conclusion: The short term is looking up somewhat, but intermediate-term indicators are still in a declining trend. I'm looking for a small advance next week but after that likely more sideways movement.