Posted on: Sunday, February 14, 2010 7:13 PM EST
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.
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The MTR-TM turned up week-over-week and broke zero to the upside.
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RSI touched 50. Movements above RSI 50 are bullish
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Volume looked good on market up-days
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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.