Mixed Market Picture

A truly mixed picture as far as technical analysis is concerned.  So to the charts we go.

The NYSE Summation index above is already on a sell signal as it has crossed below it's moving average.

The chart above is the NYSE advance divided by declining stock ratio.  As near term history shows the market is a buy when this ratio drops below the 1.2 number.  At present there is not an edge either way to add long or short.

Above is the TRIN index.  This is a shorter term index that measures advance and declining issues and volume.  There is no edge long or short for the near term.  

This last chart is the USD index long exchange traded fund on a weekly basis.  I have shown in the past that a stronger dollar has been a detriment to stocks rising and a weaker dollar is a benefit to stocks.  In the long term a rising dollar signals a stronger economy.  The fact that the market has been strong despite a rising dollar gives merit to the strength of stocks at present.  

Bottom Line:  We have a strong trending market on an intermediate term basis, with some indicators (like the NYSE Summation Index) above signalling a change in trend should have already occurred or is about to occur.  Also the NYSE Advance / Declining stock ratio above, there isn't an edge either way, to placing new long or short positions today on the indices.