39% of US stocks are above their 20 day average.
43% of US stocks are above their 50 day average.
Market bias: Neutral, turning slightly positive
Predictability confidence: Low, but improving
A sizable rally on the Dow today to stop the 5 day downtrend. However, I only have one of five indicators favoring a bullish trend so I'm still not comfortable with an entry point. The recent downtrend did allow my indicators to "sync up" with each other and I now see a more typical setup. To trigger an entry point signal, the market will need to see another downward move following today's (and perhaps tomorrow's) rally.