A Market On Offense.

Attaching these charts showing the "current state" of this market.

The style illustrates a market on offensive footing, both on abolute and
relative basis - Although the Market Offense Index (MOI) is temporarily
overheated, "current bias" still favours a market appetite for sectors
associated with a growing economy, such as techs, cyclicals, capital
goods etc.

The Market Defense Index (MDI) is not doing all too bad either on absolute
basis, which can be attributed to the strong breadth in the market, but its
RS vs MOI is clearly failing - note the divergence (blue lines) and the
subsequent trendline break early July....

/I.V