Position of the Model. The KP Trend Model remains Green.
From the Trading Room. Noteworthy this week are the two KP primary oscillator studies. Both the Short-Term Internal Oscillator and Tactical Exposure Oscillator have completed meaningful pullbacks from significant overextensions into overbought zones and are once again advancing higher from their respective neutral zones, with room ahead.
Upside price momentum remains intact, led predominantly by the small number of large-cap technology issues, supporting new all-time highs for the S&P 500 and Nasdaq 100 indices again this week. The KP-1 Trend Model (below) remains comfortably positive, having reached an interim peak a month ago. While our principal trend studies, including the two key oscillators and the KP-1 Trend Model, continue to diverge significantly from the underlying price advance, they were still solidly bullish at week’s end.
