Market internals indicating a bullish stance

There are conflicts in this market with the Bears throwing down the Bulls more frequently lately than anytime since last March, however, an indicator that picks out swings in the braoder market has a different opinion. It would appear that our own indicator,  the MarketMatrixHiLo indicator, is showing a significant decline in it's lows. You can see this in the yellow line at the bottom of the chart. Correspondingly, the orange line of Highs is coming up from a recent bottom and crossing the yellow line's lows.

Similar to this scenario, I've marked other occurances using the blue vertical lines, showing noted short term bottoms in the market. Those other occurances have  seen sharp declines in both price and the MktMatrix's Low line followed by a steady climb up of the High line over the next two to three days, which has been followed by a corresponding climb in price as well.

The highlighted white center box is a blow-up of the indicator on the lower right corner. Here you can see the SP-500 cash index. While this doesn't indicate the market will stay up, it seems to indicate it we'll have an upward move.



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