MARKET NASDAQ in a confirmed uptrend, price above a rising 30W MA. 5 and 10 day breadth ratios above 1 suggesting demand in control. 12 week breadth ratio 0.78 but improving suggesting market in transition. VXN below 30.
STOCK BULLISH STRUCTURE Price above a rising 30W MA. RS above the zero line, trending up and near ATHs. Price moved 56% before consolidating. Consolidation is 29 bars in length (almost 6 weeks). Price above the 50 SMA. The total correction from ATH was 11%. Price showing VCP characteristics with most recent pivot at 3%. Price has now formed a VCP BO. Price above its ATR zero line. The last 3 bars have been tight with narrowish range real bodies. Price has also drifted down. Volume has contracted with 6 blue dots in the last 7 days.
BEARISH STRUCTURE No significant bars within the base suggesting no strong institutional bid yet.