Another tool in my toolbox is the "P Momentum Indicator." It is holding a bullish profile and starting to perk up a bit. With the breakout in the 24 month ROC (which is similar to what I am seeing in the PF Model), a turn to the upward phase of all four would argue for a major move in stocks. This thought is a bit early though since the 9 and 12 is only turning at this juncture and not "breaking out to the upside." Given the positioning of the longer term ROC's though, I argue that the bulls still control and any improvement in the short term ROC's would argue stocks are surging. The other side of this argument is the ROC 18 which appears to be peaking. Not sure what to make of it at this juncture but sits out there for all to see. I would be very optimistic on things though if the 9 and the 12 both turned strong to the upside taking out their running moving averages.
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