Market Internals Continue To Weaken

As you will see in the Briefing the market internals continue to deteriorate. The NASDAQ is being propelled forward by a few highly weighted stocks. The percent of stocks above their 50 and 200 hundred day moving averages is well below the 50% range. Unless the internals strengthen, the risk is to the downside. There is simply not enough internal strength right now to sustain a rally. That can change, but for now it is a red flag to longs.

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