NAAIM sentiment is up over 100 again! It has been 80+ for the whole of the rally since the Trump election low. How long can it go on?!
The McClellan Oscillator has dropped below zero, turning the Summation Index down with it. Divergences are now in place for both indicators.
It's looking more and more like a fairly decent high is now in place. This could perhaps even be "THE" high however if that proves to be the case then the major downdraft will still not be expected until much later this year.
The 2000 high was the endpoint for one of the strongest bull markets and was followed by a 6 month distribution pattern so something similar should be expected here if the market doesn't make any new highs this year.
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