Stock Indices Surge On Strong Internals

The Stock Indices broke out to the upside today on strong volume and very strong breadth. While the SPY broke through resistance, the QQQ simply reached resistance. This is a short-term divergence but I do not think it will have much impact on Monday. The Indices closed at the highs, suggesting there will be follow-through on Monday. However, if there is no following through, short-term support will be important to hold. If it does not, there could be rotation back through the range.

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