NASDAQ Holds Support On Extremely Weak Internals

As discussed in the weekend and yesterday’s Briefing, the Stock Indices were showing significant signs of internal weakness and inter-market divergences. This led to a selloff in today’s trading with the Russell leading the way lower. The NASDAQ was quite interesting today. The market internals were extremely weak, but price held up better than any of the other markets. If there are lower prices in the morning, monitor market breadth carefully. Any divergences will suggest a rotation back up. If the NASDAQ isn’t trading lower, then it may be signaling more strength coming into the markets.

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