Something has to give here.. All we can do is scalp during the day for a few cents while we wait for either the bulls to take control or for the bears to dominate.

The other of my breadth indicators are setting up to really test this market tomorrow. With a strong open the Zweig might setup and go overbought. 

.. While today was a little sideways compared to Friday the direction is still clearly above it's moving average and heading into the strength, although a single bad day can dunk this baby below the water line in a hurry.  We will watch intraday tomorrow.  Unlike the 52 Week Highs and 10 Day High-Lows which put in mixed bullish signals, the 40 DMA % Index is all bull on all three indices (NYSE, NAQ RUT).

The way the charts are setting up, today was weaker than Friday but still strong enough to maintain the momentum.  Tomorrow however the data needs to be much stronger so we need to come out of the chute with new-highs-a-blazing.

There is no econ news out to help, maybe a merger?  maybe Europe or Asia?  This market needs a stepping stool in here to justify the bullishness in the underlying breadth.  Where is the price follow-through?  Perhaps a knock back down and reentrenchment is what is needed here.  Stay tuned tomorrow in the room to keep track intraday.

Our new highs, all three made their hurdle bars to keep the momentum pointing to long but all three also failed to extend a higher bar than the previous day.  That puts the long on notice and tomorrow's hurdle bars are quite high so we may be reaching a top here of the New High momentum.

I will post the hurdle numbers tomorrow morning for the first 30 minute goal.

The New 52 week highs (NYSE, NAZ, RUT) all closed on Friday with higher bars.  Today's target numbers to keep the upward momentum are fairly low, tomorrow begins the tough momentum proving days.  For the NYSE I have a end-of-day (EOD) target of 61, that means about 30 in the first half hour.  NQ is 48 for EOD or around 24 in the first hour and the RUT EOD target is 18 or about 9 in the first hour).  I will try and tweet when these are passed since RedsData feed on twitter is down.

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We closed Friday with a slight bias and momentum building on the buy side.   This mornings weaker open will be a test to see if those late Friday buyers were correct or not.   Watch the ticks today to see how they set up.