The recent divergence of the Russell 2000 in addition to the action of precious metals and other commodities tilted the model into a sell signal on March 6.
Volume for the NASDAQ Composite on March 7 was a record low for the year, further lending fuel to possibility of a dead cat bounce.
Nevertheless, the model's fail-safe has kicked in, pushing it to neutral. Price/volume action of major indices in reaction to resolution on the Greek debt situation has been positive in the face of initial weakness last week and earlier this week.
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