Stock Indices Continue Higher On Weakening Internals

Price development must be respected. However, it is important to understand the strength or weakness of that trend, especially when it approaches important resistance. That is the condition of the Indices after today’s trading. Price rose to resistance levels. However, market breadth continued its decline and volume fell off also. There was a spike in volume at the close resulting from option expiration, but normal volume continued to fall. This is a trend that is not attracting new buyers…….yet! That suggests caution.

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