Guy S. Ortmann, CMT | Aug 20, 2018 11:16AM ET
All of the indexes closed higher Friday with positive internals on the NYSE and NASDAQ as volumes declined from the prior session. While no resistance levels were violated on the charts, some of those levels were tested while some others saw moves back above their short term uptrend lines. The data is now a mixture of neutral and positive readings. As such, given the state of the data, we suspect we may see some violations of resistance over the near term, thus we are maintaining our short term positive outlook for the major equity indexes.
Charts See Slight Strengthening
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