This usually means a four day thrust is to occur here. It is unusual to have it fire when we are making new market highs.. Did me make a shallow correction in here? We have a positive tick, the Zweig closed strong.. There is underlying breadth momentum here.. news awaits tomorrow however so form you opinions after the news and reaction.
The tick correction I was looking for in the AM finished at around 12:15 and then began a slow and steady climb for the rest of the afternoon. That is bullish for tomorrows open but there is much news overnight and in the morning and news a l w a y s trumps indicators, just know that the underling tick trend is bullish.
Even though this a day long accumulative indicator, already mid-day Wednesday they have all made enough new highs to issue a buy signal. All three (NYSE, NAZ, RUT in that order top to bottom) are now on their 4th day of higher highs. Again caution here.. we are at market highs and very unusual to issue buys with out a decent correction.
It is unusual to get buy signals at new highs.. I need to do some more research but the indicators based on the last 4 days of breadth strength are signaling more upside here.
All three indices (the NYSE, NASDAQ and RUT2000) showing improvement over the last three days and pulling there moving averages back up into the bull's direction.
We are oscillating here so a bad day could reverse all the gain.
Much news this AM so hard to call before the news and reaction arrives but I would expect the current down trend in the ticks to finish this AM. We would have to see if there is strength to rally this afternoon after I run my mid-day charts.
Any gap up I will most likely sell on the first sign of weakness.

