chart: DIA is OB ?

Courtesy of ChaikinAnalytics.com

Note that green arrows show the ETF rising as it went from OS to OB.
During this rise in price the yellow arrows show a falling Chaikin Money Flow and a falling Relative Strength.   RS also started falling below 0.00 or neutral.  This is not what you want to see if you think the ETF is going to continue rising.  You would want to see more confirmation of a rising ETF, that is, more green in both the Chaikin Money Flow & Relative Strength.

Since the Advance Decline Line (ADL) is still making new highs, it would be nice to see a "Pause that Refreshes" here and then another push up to new highs again.  Over the last 100years +/-, the stock market has not topped out making new ATHs  along with the ADL making new ATHs.   They don't usually do it together.  The ADL usually tops out first and then the stock market in a negative divergence pattern.

The Picasso Cycle Dates, posted July 14th, suggested a high July 19-28.   The Longer Term Picasso Cycle Dates suggest a pause in August and a high later in the year.   This would be great if it all fell into place this nicely.

Keep following JustSignals using Twitter, @StockTwits or Follow By Email. Just submit your email address in the box on the Blog homepage. 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