Guy S. Ortmann, CMT | Sep 16, 2019 09:37AM ET
h3 McClellan 1 Day OB/OS Oscillators Remain Overbought /h3
The indexes close mixed Friday with mixed internals on the NYSE and positive internals for the NASDAQ as trading volumes declined on both exchanges from the prior session. No technical events of import were generated on the charts that remain positive. Yet, as we have discussed recently, the data and valuation are counterbalancing the charts, thus leading us to maintain our near term “neutral” outlook for the major equity indexes.
On the charts, the indexes closed mixed Friday without generating any notable technical events worthy of comment.
The data remains mixed.
In conclusion, Friday’s action did nothing to warrant a change in our near term ”neutral” outlook for the major equity indexes as the weight of the evidence from the charts, data and valuation remains somewhat evenly balanced.
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