Guy S. Ortmann, CMT | Jul 18, 2017 09:20AM ET
AAII Ratio Moderates
Opinion: The indexes closed mixed yesterday with positive internals on the NYSE while the NASDAQ was mixed. Volumes rose from the prior session on the NYSE as NASDAQ volumes dipped. Two new closing highs were achieved on the charts, leaving all of the near term trends intact. The data remains primarily neutral. As such and in spite of our persistent concerns regarding valuation and high margin levels, the near term uptrends of the indexes should be respected until violated with the caveat that risk, in our view, remains high.
SPX: 2,416/NA
DJI: 21,305/NA
COMPQX: 6,070/6,308
DJT: 9,566/NA
Mid: 1,746/1,772
RTY: 1,413/NA
VALUA: 5,492/NA
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