The Bull/Bear Rating this week has moved all the way from [ - 5 ] last week, to [ - 1] this week. This is because the ratio of Bull-to-Bear ratio is 1-to-1, with only a slight edge to the Bears. The Counter Cyclical Market Chart still shows a very negative direction of the market. But, over the past 3 weeks, the ratio of Bear Signals to Bull Signals has been tilting significantly back toward a Bullish condition. It is becoming more and more likely that next week's Composite Index will show the bottom occurred in October.

Bull/Bear Forecast For the Upcoming Week

The Bull/Bear Rating provides a one-week directional signal on the market, with [-5] being the most Bearish and a [+5] being the most Bullish. The TurnerTrends Counter Cyclical Market Forecast Chart estimates the near-term direction of the market from a contrarian perspective. The red line (New Short Sell Index) shows a technical direction and the degree of strength of Bearishness. The black line (Composite Index) is the combined impact of both the new Short Sell Signals and the New Buy Signals and is an indication of the degree of oversold or overbought condition of the market. Buying opportunities exist when the Composite Index is moving higher. Market bottoms are represented by a change in direction of the Composite Index from moving lower to moving higher. Market corrections are projected when the Composite Index crosses the Short Sell Index, which is an indication of an overbought market. The market is represented by the light gray shaded area which shows the relative month-to-month gain or loss of the Dow.