Market Internals Not As Strong As They Should Be

While price development was basically muted today, the Indices are all at or near their all-time highs. To me, this is concerning, as the internals of this Market are still not at a strength that would suggest a stable rally without limited risk of a downside move. The internals did strengthen somewhat. However, if they are going to break out to new all-time highs, I would expect to see much stronger moves internally. After all, 52-week highs, minus 52-week lows, were positive only 9 shares at the end of the day today. There was a large volume spike at the end of the day, but that is typical for the month-end option expiration.

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