Breadth indicators on their 5th attempt at a bottom...
We now have new lower boundaries for the breadth indicators which gives us a base going forward. These boundaries show considerably upside room - even if this room is only to former bull market support (let along resistance!).
The late October attempt at a bottom wimped out with new market lows, but as happened in March we have a bullish divergence between the breadth indicators and the market itself. Even in March this was enough for a 2-month rally. Another 2-month rally here would fit seasonal trends in addition to been a welcome relief.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website