No breadth thrust, but a slow grind-up

Mid-week market update: I recently highlighted the possible development of a rare momentum-based Zweig Breadth Thrust buy signal (see The Zweig Breadth Thrust watch). The window for the ZBT buy signal closes tomorrow (Thursday). While the S&P 500 has been advancing slowly, we are unlikely to see the buy signal barring some gargantuan melt-up tomorrow.

However, the failure of the ZBT buy signal doesn't mean that the outlook has turned bearish. Instead, the stock market appears to be undergoing a slow grind-up.

The full post can be found here.