Yesterday, I discussed the internal and intermarket divergences that exist in the Indices. While there was a news event this morning that could have rectified those divergences, they were not. In fact, the internals deteriorated more in today’s trading. It was still surprising to see the Indices recover from the opening losses. Had they not, it could have been a substantial down day. The SPY and QQQ are testing all-time highs. How we end the week will be very important.