Stock Indices Test Important Resistance

The Stock Indices tested important resistance today but failed to breakthrough. Inter-market divergences exist, but more importantly, are the divergences in the internals. While some of the Indices are at all-time highs, the number of stocks making new highs is declining and new lows are increasing.

This is an important Key Reference Area. I suggest using caution on long positions. With that said, there is no real selling pressure. Yet!

Leave a Reply

Your email address will not be published. Required fields are marked *