Repetition to the message of the market - the cycles of price, leverage and time is often the best teacher. Please read understanding reviews for further discussion of market reviews.
Negative trend oscillators have defined a down impulse since second week of August 2014 (chart 1). The bears, regardless of opinion, control the trend until this impulse is reversed. While ITCO's uptick generates a mixed reading, do not reverse the impulse.
The flow of leverage (red arrow) has defined a bull phase since March of 2014. This set the expectation of rising prices. Expectations do not guarantee this observation.
Negative leverage oscillators, an down impulse, supports bull phase and opposes the bear trend (see trend).
The 5-year seasonal cycle defines strength - more a pause in the downtrend until the third week of April (chart 4). Consolidation within the downtrend or countertrend rally into this seasonal transition is possible.
Market-driven money flow, trend, and intermarket analysis is provided by an Insights key.