Registered: 1101777014 Posts: 4,457
Reply with quote #1
As a follow up to my post on August 4th, tomorrow will be the 10th trading day from the Zweig Breadth Thrust trigger point using Marty's exponential moving average guideline. With Thursday closing with a 56% reading, it's highly doubtful that the 61.5% level will be met by the close on Friday.
However, if we use an simple moving average to this indicator, the August 4th trigger was subsequently cancelled due to market weakness from August 5th to 7th, and a new trigger point was then given on Friday, August 8th. As of today, the current reading is at 54%, with the 10th trading day from this trigger coming in on August 21st...so this is still doable. I will again update as we move along. Fib __________________ Dave's LinkedIn Profile Technical Watch Twitter Page Technical Watch Facebook Page "As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan "An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan "What we see depends mainly on what we look for" - John Lubbock "The eye sees only what the mind is ready to comprehend" - Henri Bergson “Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977 "You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977