The broad NYA index covers thousands of stocks, so I like to use it to get a broader feel for direction. After strong move off recent lows, you can see price has paused under the two big boys 50 and 200 EMA'sA breakout here would probably mean ST to IT has turned positive, not too many I think see a plunge is around corner....summer rally time most say, see strength in technical data.
A BIG MOVE IN CHINESE STOCKS might cinch it, but so far they remain depressed. The data for now doesn't have to support these bullish claims, the action is mostly manipulated...I'm not sure what to trust anymore.....when the fog lifts....I don't think anyone is gonna like what they see.
The ECRI was held in broad esteem when it was rising, now it is plunging negative and warning of potential double dip.....same bulls ignore it.
D
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