Momentum over the last week has been flat, and today was no different, Breadth ended at only 1.56:1, decliners on average volume of 1.09B shares at the NYSE. Once Momentum picks back up, the big picture should become much clearer. However once the SPX breaks out of this flat range, it needs to follow-thru more then just one day to set the trend. 1262.66 is the first magic number for the bears, making a lower low here puts the up-trend into jeopardy once again.
The Trend Finder II is updated.
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