Market Internals Decline After A Strong Friday

As you will see in the Briefing, volume continues to fall in a similar way that was prior to the most recent thrust lower. If this is the case, any additional move above today’s high should be looked at skeptically unless breadth and volume are increasing. I have felt we were in for an extended rally. Trading below short-term support levels discussed in the Briefing will increase the probability of another move lower is underway. Failure to do that opens the possibility the rally is not yet complete.

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