The Indicating Ranges are a collection of proprietary computer models generating a point-in-time assessment of the relative strength (or weakness) of a market’s technical and cyclical condition as of the close of a given unit of time (a Day, Week, Month, Quarter, or Year). These computer studies produce an assessment of either Bearish (negative), Neutral or Bullish (positive) condition after each close.
It is important to keep in mind the Indicating Ranges do not update while a then-current Week, Month, Quarter or Year is progressing. The model produces an update only when the time unit (Week, Month, Quarter, Year) closes out.
This is different from the Global Market Watch computer model (GMW) – which does continuously update as a given Week, Month, Quarter or Year progresses.
So the GMW colors/comments may change along the way as the Week, Month, Quarter or Year progresses towards its close, whereas the Indicating Ranges will not change until that Week, Month, Quarter or Year finally closes.
Finally, the one exception to the Indicating Ranges update schedule outlined above is the Daily time unit – each being a self-contained unit of time that have an open and close in the same session. As such, Daily Indicating Ranges will update after each active market day.