TRADING DP

[TREND1]

3/6 Ultra-Short-Term Indicators: We have a climactic reading on the CVI and a somewhat climactic reading on the Participation Index - DOWN. I would consider this an exhaustion of this current decline, but the VIX isn't where I'd like to see it for a good rally pop. We want to see it test the top of the upper Bollinger Band. Given that, I believe this is a continuation reading for the current decline to continue.



Conclusion: Indicators are collectively bearish. The new PMO SELL signal on the NDX and the top on the SPY's PMO (as well as the other DP Scoreboard indexes) suggest a pullback is on tap.