Wilshire 5000 Sitting on the Trendline

September 19, 2008

Stocks pulled back Monday on renewed concerns from the financial sector. The Trade 4 Cash systems followed suit, with the exception of Wave Rider, which eeked out a gain of 0.19%. The Wilshire 5000 index is sitting on its short term trend line, and needs to rebound today to avoid breaking the current uptrend. The Wilder ADX/DMI indicator is currently waffling between bullish and bearish. The ADX line has drifted well below 20, which is one indication that there is really no medium term trend present at the moment. My Market Strength Meter is still leaning well toward bullish, though, so that’s what my systems go by until it says otherwise.