Guy S. Ortmann, CMT | Nov 16, 2017 10:00AM ET
Data Suggests Pause Or Bounce
Opinion: All of the indexes closed lower yesterday with negative internals on the NYSE and NASDAQ. Volumes declined on both exchanges from the prior session. Some of the charts saw further deterioration. However, the data is at levels now suggesting a pause or possible bounce from the recent weakness. Yet unless we see an improvement in breadth and or trend, we remain of the opinion that the various near term trends of the indexes be respected, whether positive, neutral or negative.
SPX: 2,547/NA
DJI: 22,879/23,567
COMPQX; 6,557/6,753
NDX: 5,994/NA
DJT: 9,380/9,750
MID: 1,810/1,843
RTY: 1,450/1,489
VALUA: 5,650/5,811
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