While our thoughts and prayers remain with the folks in Houston this morning, geopolitical tensions have returned to the center stage. With North Korea’s boy-leader firing a missile over Japan last night, the concern is that retaliatory measures could be taken and the situation could easily escalate. Where this goes is anybody’s guess, but as far as the market is concerned, it appears that traders are taking a defensive stance in the early going today.
But before we get carried away with speculation, let’s turn our attention to our objective review the key market models and indicators and see where things stand. To review, the primary goal of this weekly exercise is to remove any subjective notions one might have in an effort to stay in line with what “is” happening in the markets. So, let’s get started.
The State of the Trend
We start each week with a look at the “state of the trend.” These indicators are designed to give us a feel for the overall health of the current short- and intermediate-term trend models.
Executive Summary:
The State of Internal Momentum
Next up are the momentum indicators, which are designed to tell us whether there is any “oomph” behind the current trend…
