Guy S. Ortmann, CMT | Oct 23, 2018 10:57AM ET
The bulk of the indexes closed lower Monday with negative internals on the NSYE while NASDAQ internals were mixed. Volumes declined from the prior session on both exchanges. The charts saw some further deterioration as some support levels were violated while breadth weakened as well. The data continues to send some encouragement but we have to admit that there has been no action on price and market breadth that are the ultimate determinants for the market indexes. As such, we are forced to change our outlook from “neutral/positive” to “neutral/negative”.
Data Positive But Charts Negative
/h3
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