The Stock Indices took a break from their climb higher. Today was mostly a rotational pattern. Still concerning to the analysis is the continuation of weakness in the internals. Market breadth continues to decline. Net volume is declining. While total volume is down in the NYSE and up in the NASDAQ, net volume is declining, suggesting there is more selling volume gaining strength.
Once again, the trend in price must be respected, but with caution until there is a strengthening of the market internals.