chart & Short Term Update

The following was posted on October 6,2015
Today's comments are in Blue

Short term details:(every date is +/-)
Oct 5 -high  At this writing there was a rally into Monday Oct 5th.  The % of DJIA stocks above their 10 DMA was very overbought, so let's see what happens the rest of the week.
The rally into Oct 5th from the last low was right on target as forecasted.  The move did start to fade on Tuesday Oct 6th, but, it then continued on Wednesday and Thursday.

Courtesy of IndexIndicators.com

Mentioned above, "let's see what happens the rest of the week".  The above chart is the % of DJIA stocks above their 10 DMA updated as of yesterdays close.  The first yellow highlight on the left is OB and it stayed in that area a little longer than in other areas on this chart.  That is because of the thrust off of the Oct 2014 bottom.  On Wednesday Oct 7, 2015 there was a Zweig Breadth Thrust.  To review that post go to this link    stks.co/g3Efy
During a thrust some indicators may become OB and stay there until the momentum starts to fade.  We "may" be in that environment. 

Oct 11-13 low, with some importance on Oct 12th
Occasionally some cycle dates may invert and or just not work.  In this case it "may" be because of the Zweig Breadth Thrust as explained above.  The Oct 12,2015 date still comes up as a date to watch, so, it "may" be a high instead of a low as first thought.

Oct 15-17 & Oct 18 possible volatility
Oct 26 high
 
More on all of today's comments as the market progresses.

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This has been posted for Educational Purposes Only.   Do your own work and consult with Professionals before making any investment decisions.  
Past performance is not indicative of future results