Today, I talked about the market condition and how we look overbought – but the sentiment indicators seem to tell a mixed picture. However, markets are right near highs with that sentiment still not flashing a signal – so we have a wall of worry up.
VIX still looks in great shape here and says the market may continue higher. After the market summary, I introduced the ADXDMI indicator. The ADX (avg directional movement) is a great tool used to measure the power of momentum in a stock.
I also introduced the efficiency ratio, also another momentum tool that tells us how powerful a stock is moving relative to the number of days and the markets.
