I have had a couple of people ask me what the Zwieg Breadth looks like now.. So here it is for the NYSE:
If we are completing the pattern in the crayon thick trendlines then the ZB should continue to move down and touch the bottom descending trendlines placing the NYSE ZB into oversold for the first time since March. The Nasdaq exchange ZBI has completed it’s lower low on the downside channel, so if you are a bull or a skeptic bull I would suggest focusing on Nasdaq stocks since they have completed their downside and are currently oversold on the ZBI. If you are a bear than I recommend the Dow listed stocks since they are at 48% now and need to drop to 39% in order to establish a new intermediate low.
-RLT
Happy Trading!
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