Stock Indices Move Higher On Weakening Internals

The Stock Indices today moved higher off a divergence in market breadth that occurred in Friday’s trading. However, as prices moved higher, breadth began declining and trended lower the entire day. So, as prices spent the day in rotation, the internals weakened. Short-term support and resistance are the high and low of today. Significant longer-term resistance is 410 in the SPY and 300 in the QQQ.

Leave a Reply

Your email address will not be published. Required fields are marked *