Intermarket And Internal Divergences Increase

The S&P and Industrials appear to be the stronger of the Indices. However, the Transports, NASDAQ and Russell are all lagging. Add to the intermarket divergences are the internal divergences that worsened in today’s trading. While the S&P and Industrials have had a nice rally, because of the intermarket and internal divergences, I am simply cautious to the long side of this market right now.

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