Blog Post On: 2/14/2010

The MTR-TM called the market down turn a few days after the up-trend broke. The MTR-TM does lag turning points in the market and it does so in order to make few but accurate calls.  A review of the major indexes (in the purest sense) the trend has recently changed. In other words the down-trend has broken and most of the major indexes have followed through.

MTR-TM: The MTR Stock Market Timing Model has not issued a buy signal yet but there are indications to take a moderate bullish stance.

  • The MTR-TM turned up week-over-week and broke zero to the upside.
  • RSI touched 50. Movements above RSI 50 are bullish
  • Volume looked good on market up-days
  • Downtrend was broken

 

 

Advance/Decline Lines: The NYSE and NASDAQ ADLine downtrend was broken.

 

Major Indexes: The NASDAQ and Value Line indexes broke the downtrend. The NYSE has not confirmed.

Just as a side note, the % of stocks over the 200 Day MA was a good indication that a market top was coming when it was posted back in early January.