CCT Divergence

The daily CCT continues to register plus readings on a daily basis and we are at the high of +131. This seems to be a divergence as my short term indicator gets more overbought at lower prices. All rallies seem to abort quickly and the next stop for the bulls to step up and defend is the 1060 area which should provide some strong support. We have also closed below the 50 and 55 DMA which a lot of trader watch so we will have to see if we can make higher lows in order to get back up above those levels. There are numerous news items for this market to digest this morning so be careful as swings can be severe. Please tune into the morning advisory for specific trading recommendations and thoughts for the upcoming day. If you would like information on the advisory service, please contact the office at 330.484.0331.