As I have been discussing in this Briefing, I did not like the rally based on the continuation of weakening internals. Those weak internals likely led to today’s decline. However, significant is the fact that NASDAQ volume increased significantly today, as did net volume, however price was very weak. These intermarket and internal divergences may get resolved tomorrow. If there are lower prices at the open, market breadth should be weaker than today. If not, it will suggest a possible rotation back up.
