Above is the Qs weekly pivot data running back to 7/3/08 which looks at the MAs of the PP pivots and the MAs of the pivot ranges (charting series 1-5).
Below is the charted progress of the Qs for the past 3 weeks:
Each of the 3 charts becomes progressively longer as we add the present week's data to the string. The gradual decline in the Qs momentum that began the week of 8/29 (week 6) is clearly seen here, as is the range expansion that accompanied it (think volatility).
Last week's chart was interesting in that we began to see a flatting of the Qs pivot and range declines. This is assumed to be the first step in any market reversal to the upside and as such, this week's chart was eagerly anticipated.
And here we go!. The coming week's PP of 31.87 is a modest gain over last week's 31.62, but the Range MA3 has dropped a full point and the Range MA4 has dropped .5 points. Both these trend lines are now looking neutral to bullish and whether week 14 will turn out to be the bear market bottom remains to be seen.