Guy S. Ortmann, CMT | Nov 19, 2014 10:02AM ET
Yesterday’s market action was more of the same in terms of the popular large cap indexes overshadowing the mid and small caps. As such, the markets remain selective in that regard. Yet no technical sell signals are present on the charts. The data still has a somewhat cautionary tone although having moderated slightly. As such, given the extended nature of the rally and cautionary sentiment levels, we remain of the opinion that near term risk outweighs potential reward while the charts have yet to say “sell”.
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