Market is in weak uptrend. The table below shows the gains (since their buy signal) made by the indexes shown on the left side. We are calling the market to be in a weak uptrend because the price gains are not “stellar” from their buy signal.
The Market Breadth Ratios are giving good readings for an uptrend. However the market is temporarily extended and may correct or base for a few weeks. This is what we call a countertrend, the primary trend being up right now. Read the blog of Sept 10, 2012 to get a detailed picture of what is working in the “Current market environment”.
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