Guy S. Ortmann, CMT | May 26, 2016 08:58AM ET
Data Remains Largely Neutral
Opinion: Our next report will be on Tuesday, June 31. All of the indexes closed higher yesterday with positive internals as volumes rose on the NYSE and declined slightly on the NASDAQ. All closed at or near their intraday highs with more positive chart signals generated. Even with the advances, the data remains largely neutral and has yet to suggest a shift from the recent strength. Thus we remain near term “neutral/positive” as well as for the more intermediate term that is seeing an improvement in breadth. Valuation, however, is approaching somewhat extended levels again.
SPX: 2,057/2,100
DJI: 17,527/17,922
COMPQX; 4,771/4,927
DJT: 7,476/7,823
MID: 1,439/1,483
RUT: 1,103/1,146
VALUA: 4,519/4,665
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