The Pring Turner 10C Fuel Tank is refueling and currently sits at +20, an improvement from the November 12th +10 reading. Even though the fuel tank only improved by 10 points many of the underlying indicators showed improvement. The Fixed Income Spread Model was the only indicator to register a change (from a bearish to a neutral reading).
The fuel tank reading is fitting in nicely with Joe's stock market hypothesis where he expects that we are seeing a short term rally, and then perhaps we get a re-test of the lows from last week (possibly even make new lows) but that could provide the added fuel to the tank. If we re-test the lows over the next few weeks I suspect we could very easily see the fuel tank at a very bullish (+60 to +90) range, in fact even if we go sideways for the next few weeks I believe the fuel tank could make its way to +40 or+50. Time to get that shopping list together if this is a "double business cycle" and a continuation of the bull market.