The Short-Term
The short-term looks like it is topping out. The number of new 52-week lows is elevated.
The Bullish Percents are pointing lower indicating some short-term selling pressure.
This chart has been out-of-synch for a couple months. I thought we would see the volume join the AD line and start to head higher. But it hasn't and this is another negative for stocks.
Outlook
The long-term outlook is positive, but it is time to start getting cautious again.
The medium-term trend is down as of March 21
The short-term trend is up as of April-20
Comments
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