Stock Indices Melt Higher on Negative Internals

The Stock Indices continued their slow move higher, climbing a wall of worry. However, the internals of the market were actually negative today in the NYSE and declining in the NASDAQ. This lack of internal strength gives me worry over long positions. Many times, I have seen the Indices reverse very quickly due to weak internal strength. However, the rally must be respected. Until there is a series of higher lows being violated, the trend is up, but with a lot of caution until net volume and market breadth strengthen.

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