Marketsmith Workshop Comments

The Momentum Indicator (for both the NYSE and NASDAQ):

The charts are in a buying zone around 75 and a selling zone around 120. 100 is the neutral zone. The NYSE went to 170 last month. It was 141 last week. The NASDAQ has been above 100 for the last 5 weeks. This is a healthy sign for an uptrend but may need a breather for awhile.

Weekly 52 Week Highs and Lows:

This turned positive both for the day and week. The path
of least resistance is up for now.

Intermediate Term C indicator:

This stayed positive. This is a sign of a rising bias for
the market for awhile.

The Workshop total:

The number has been negative for the last 3 weeks. This shows a market rotating but now going down. gn for an up market.

Conclusion:

The indicators have started an uptrend that could last
for weeks. There will be minor corrections along the way but until the indicators start to reverse themselves, it should be up.