Daily charts (you can click the charts for larger image):
SPX:
* 363 stocks in bullish mode. Another solid uptick. * BullsPower at 48, BearsPower at 9. Bulls keep the upper hand with a very handsome lead. * Above both Watershed lines = bullish. The dW at 6241 is a first line of defense.
* ELC goes up. * THRUST goes up. But at risk of painting a bearish divergence * BUD2 is also weakening gradually and may go for a bearish crossover. * The Repellor is at 6155. * We see a new push to the upper levels of BlueSnake for the first time since early July. Continuing rally.
* Rotator goes up. Both components are rising * The Bands keep rising steadily. * Trading remains in the upper band. Bullish. * Painless trading for about two months already. When trading becomes painless it's ready to become painful. The question is always: when?
* SwX stays yellow - neutral. The important point to watch here is whether it goes on to red or gets back to green. * MoM turns up. * The persistent refusal to go down has led to its typical outcome: a new push into record territory. * The green trend channel is steady as it goes. And the red line we added could become of interest as a possible wedge.
* Icebergs algo. * Green mountain is rebounding, but stays below the healthy +4 level. That's a bit of a red flag on this latest move.
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