Charts of the day, starting with the SPX (click the images for a larger pic):
* 374 stocks in bullish mode. Another downtick, despite a new record high. That's always a bit of a red flag. * BullsPower at 49, BearsPower at 7. Bulls keep the upper hand. * Above both Watershed lines = bullish. The dW at 6100 is a first line of defense. * The number of pP signals climbs to a very high 257, so way above 10%. This often marks tops, so careful out there.
* ELC goes up. * THRUST goes down. Thrust has not been below zero since the April lows. * The Repellor is at 6061. * BlueSnake keeps pushing higher and we got another quick new record high, which we warned for. * But indicators keep weakening.
* Rotator goes up. But appears ready to roll over because the leading green component is going down. * The Bands are rising. * Trading still continues in the upper range of the Bands. That's bullish, but it's also the typical region where peaks are formed.
* SwX stays yellow - neutral. * MoM goes down from a +8 peak. * Weakening setup.
* Bitcoin has broken out to new record highs. * SwX turns green - bullish, so we have another significant upswing at hand.
