Topping process?
Dac cycles indicator is indicating a little weakness first time for ages, which could mean we are near a short term market top. Even the market would go higher from this point, it would be probable that we will have lower level during the next 1 - 4 months.
Dax McClellan Summation Index hasn't been able to reach higher levels any more. SMI will keep declining if we get at least 3 declining stocks today (out of 30).
The best performing stocks have had beta approximately around 1. Above 1 investors remain bullish.
It is difficult to say how high we would be going even the indicators are yelling overbought and some of the indicators have already reached their all time high level.
Check out my Trend Following -page. According to this model, Dax will try to step out of rising trend if it closes this week below 6810. So, watch out this level. Next week will be different.
Check out my Trend Following -page. According to this model, Dax will try to step out of rising trend if it closes this week below 6810. So, watch out this level. Next week will be different.
