Although some of the market breadth indicators have bounced back to the level when the market was at record high territory back in September, but those levels are a reflection of a weakening market. Therefore to make an assertion that the market has regain its stature to begin another uptrend is ill-conceived at this time. Instead, one should be prepare for the market to possibly make an abrupt turn downward as the momentum that have caused the market to gain 7% in the last ten trading sessions begin to wane.
DJIA:
(click on the chart to enlarge)
