Inter-market and internal divergences continue to persist. With each day that passes, the Dow Transports and Russell appear to be beginning to turn down. The NASDAQ wants to explode higher and the S&P seems to be uncertain as to whether value is higher or lower. Volume continues to decline, suggesting the trend higher is beginning to weaken. Market Breadth is falling. While all of these divergences can persist as price moves higher, they are eventually corrected. I have to anticipate the higher probability at this point is for some type of pause or correction to the recent move to all-time highs.

DAILY BRIEFING 200215 from Joe Mertes on Vimeo.