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To: Les H who wrote (27110)	5/28/2022 11:53:06 AM
From: Les H	Read Replies (1) \| Respond to of 29601

There are indications that the bottom is in. From the S&P 500 (SPX) chart, the McClellan Oscillator is shown and below that, the Wayne Whaley Breadth Thrust. The McClellan Oscillator has not been this high since the March 2020 lows. If pullbacks can be contained near the zero line in the next few weeks, that bodes well going forward. The Wayne Whaley version of the Breadth Thrust has gone to extreme overbought readings where it suggests a longer term rally will persist. Note the March 14 – March 29 rally did not produce a breadth thrust which indicates a new all time high is a low end option. The current readings are providing a different picture and new all time highs can be challenged going forward. For further confirmation, if the monthly SPX closes above 4373.94 on June 30th, that halts the downside momentum with a DeMark price flip. Furthermore, if the SPX closes above 4297.50, that will keep the quarterly timeframe with a TD Sell Setup @9 count. This is key since it will help construct markers for the next downturn. Financial markets are adjusting to a shift to global liquidity, just when long term DeMark indicators are in the peak stage. Expect more frequent volatility occurrences. tradetrekker.wordpress.com 10-day advance-decline for NYSE has reached 1.51. The last two times it went above 1.50 in March 29 and January 4, the markets sold off after one to two week topping period. Of the three, this took the shortest time of 7 days to flip from oversold at 0.75 and below to overbought at 1.50 and higher. The others took place after 10 and 20 days.