S&P and Dow Move Higher. NASDAQ, Transports, And Russell Lag

The S&P and Dow Industrials are testing the all-time highs. However, the NASDAQ, Transports, and Russell are lagging. Add to this the weak internals and we have the possibility of another turn lower. Breadth is still diverging and volume falls lower each day. While we have to respect the price development, it is important to respect the fact it is a weak rally internally. At this point, there is no selling pressure. This allows price to grind higher, as we have seen for the past few days. That could change any time.

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