Saturday, August 9, 2014

Bull Bear Battle

The Market Trend Model (http://bitly.com/M_Trend_Model) remains decidedly negative as bulls and bears battle for control of the market.  

Some market internals are seeing lower levels that have not been seen in months.  The high-low index (http://scharts.co/IuSfO4) has been falling steadily since June and is at multi-month lows.  Also, the Nasdaq advance/decline volume (http://scharts.co/19gNyzU) along with the NYSE advance/decline volume (http://scharts.co/19gPAQt) remain in negative territory and they have yet to show that capitulation spike that is so common with a market bottom.

I expect the battle to continue as bulls and bears search for market equilibrium.