Chaikin charts: DIA JNK SPY TBT XIV

Courtesy of ChaikinAnalytics.com

Courtesy of ChaikinAnalytics.com

Courtesy of ChaikinAnalytics.com

Courtesy of ChaikinAnalytics.com

ChaikinAnalytics.com

The above charts are in the OS area.  Most are above their MA.  Most show positive divergence and some have positive price patterns. 

Additionally, the % of DJIA stocks above the 10DMA, just posted this morning, is also oversold.  Picasso is at the end of it's low forecast period and is now entering it's high forecast period.

In summary, best case scenario would be for some positive action into the Picasso high dates of 5/7-17 +/- and then a sell off into mid year (Picasso's next date 6/17+/-) to flush out the bulls and to get more bearish sentiment so the second half of the year can grind to the upside into a Long Term top around Dec 2016 +/-.   This top/high could make new marginal highs in "some" but not all indexes, but it is not necessary for that to happen.

More on this as the market unfolds.

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