Stocks Rally, But The Internals Falter

The Indices rallied today, but the Market internals were not necessarily supportive. There were slight divergences. However, both the SPY and QQQ traded up to a gap, and sellers came in and stopped them from trading into the gap. Also, if they trade above today’s high, the gap will likely get closed, and it will eliminate the suspected head and shoulders top I have been looking at. Therefore, tomorrow’s price development, and corresponding internals will be important to the longer-term development of the uptrend the Indices have been in.

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