Note the May 6th reading of 1500 plus on the 5d NH (rarely goes above 1700), also percent above 10 days rarely go above 75/80, where the markets often tops. I would expect that since we are in the midst of a decline and what we have here is just a counter move, we do not see such high numbers. The fact that all that is happening while the numbers for percentage above 200 d keeps a steady slow decline is quite bearish medium term. If the EPC was not so high, next week would probably generate a "to the hills" call. It still might since the market mood may change quite rapidly. A mildly bearish stance, seems more appropriate, IMTO, then a very bullish stance.
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