The trend is still up and it is easier to go with the wind! Although, it is pretty flat at the top.
The Net Monthly NH/NL is pointed upward
So is the Rolling 52 week NH/NL
The Capitalized NHNL continues to show a bearish divergence.
The trend is up, but there is still reason to be cautious. The selloff on Friday looks like traders taking profits and not wanting to be in the market over a three day weekend. I would not bet against the bulls at the moment, but it keeps looking like their leadership will be over soon and a healthy pullback is coming.
