The medium term indicator did a fine job of identifying a tradeable bottom. It is still lagging the S&P-500 which should cause some confident loss in the long side of the trade. Right now the market seems to have a one track mind – going up until behavior changes.
Short term comments reflect the same. Slightly overbought and lagging.
Last week’s prediction has somewhat come true as we’ve seen the Dow and other laggards outperform tech which was the original leader in this cycle.