[isatrader]

In 2011 we did not have a zero crossing of the MI. Since its been positive for such a long time, the zero cross carries more significance now, and it has also occurred.

It did get close though, and we're currently at a similar level to the 2011 low for it as you can see on the attached 20 year Momentum Index chart. So it's in a battleground area imo, as a strong move below zero would add further evidence to the Stage 4, and strong bounce back into positive territory would give weight the other way.