So far in the uptrend of late the 60 EMA in Hourly Chart has held and particpants ( dip buyers ) jumped in and buy.
Despite the fact that breadth is telling us money is leaving on rallies, the hourly shows no bearish signs
02/23/2012
Breadth Thrust
The Breadth Thrust Chart below is one of the indicators assisting to determine extremes in the market similar to NYHL Chart.
Unlike our notorious Perma Bears, we are taking note of such helpful indicators without being dragged into guessing the market and using crayon trend lines.
Since I am not a chartist ( TA ) nor a person to have written books about TA or feeding myself with ego spoons of silly trend lines, I merely depend on market conditions showing extremes on the upside or downside.
Breadth Thrust is just one of few indicators providing us detailed hints of the condition of the market.
