Stock Indices Continue To Rally On Weakening Internals

As you will see in the Briefing, the Stock Indices continued their rally into today. However, as discussed in last night’s Briefing, the internals continue to diverge. Price development suggests the longer-term analysis of the rally being part of a countertrend move from the all-time highs is on track. Price structure suggests it may not make it that far, unless the internals stop weakening. In any event, we now have good support and resistance levels to monitor.

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