The Market Trend Model continues to illustrate the sloppy nature of the current stock market environment.
The S&P 500 remains within striking distance of its all time high and while its weekly summation index (http://scharts.co/PomQjS) remains slightly positive, its daily summation index (http://scharts.co/PomKsy)
turned negative this week. It would seem doubtful this index has a sustainable breakout to new highs, but I remain open to the philosophy that "anything is possible."
The Nasdaq has been mired in a multi-week down trend. It would appear to me the Nasdaq likely re-tests the April low before it can begin a sustainable uptrend (http://scharts.co/1hpWQvI).