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Updating Zweig & Appel, he notes that these thrusts have recently more often become signs of blowoff tops than rally continuation signals. So meltup or meltdown, next week could indeed bring lots of fireworks. Here's the link:
http://www.mcoscillator.com/learning_center/weekly_chart/a_breadth_thrust_signal/
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McClellan does a nice study of 'breadth thrusts' like occurred this week:
all my 60 min systems have been on sells the last few days....today my daily system also went on a sell....good chance "H.E.double hockey sticks" is about to be unleashed.....have a great weekend thou
Posted by lessarda on 3rd of Jul 2011 at 03:54 pm
Updating Zweig & Appel, he notes that these thrusts have recently more often become signs of blowoff tops than rally continuation signals. So meltup or meltdown, next week could indeed bring lots of fireworks. Here's the link:
http://www.mcoscillator.com/learning_center/weekly_chart/a_breadth_thrust_signal/