Is there anything left to say? Breadth was slightly negative. New highs dropped a bit to 199. New lows remain elevated at 26.
The futures seem to be contained between the 20 SMA and the upper channel line. Not much range there.
The green count remains below 50.
The short term pull pressure lines went negative today. The intermediate and long term lines remain green.
This looks like the typical slow creep up pattern. Short term market internals are weakening. There is no telling how long it will last, but it usually ends with a big down day. Big being relative to prevailing volatility. We are currently experiencing all time low volatility so big probably won't be all that much. With 7 point intraday ranges on SPX we could see a triple of volatility and still be within what we used to call normal volatility. Still watching 2540 on the downside.
Bob
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