Tuesday Outlook: Where to Now?

Part 1



Part 2



Color today, sloppy.

Volume is still on the light side as investors may be slow to return to work. Breadth was positive even with negative headline numbers.


Despite all notifications of ridiculously poor mathematical calculations Yahoo! Finance still can’t seem to get things right as you’ll note below.



Meanwhile, our man in Geneva, David Hurwitz, gives us his version of the day on the NYSE.



Frankly, we need a few more days like this to work off some serious overbought conditions. As I was doing charts over the weekend I found some actionable alerts. But, when completed I noted the stratospheric level of the normally trusty McClellan Oscillator and it gave me pause.




An important message is gleaned from our internal chart below of the S&P 500 Index. The message is we’ve experienced protracted but volatile sideways action (hence, the “everywhere and nowhere” comment in the YouTube video above) since DeMark Indicators generated a “9” reading on weekly charts back in late October. Now the table is set technically for a rally as this extensive action allows other indicators to start to kick-in.

click to enlarge

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