Guy S. Ortmann, CMT | Jul 02, 2015 08:58AM ET
Short Term Downtrends Remain Intact
Opinion: All of the indexes closed higher yesterday with positive internals as volumes declined. The short term bounce continued but none of the current downtrends or resistance levels were violated on the charts. The data remains ever so slightly positive, keeping the scales tilted in favor of some further near term list. However, we remain concerned for the intermediate term as, among other issues, advisor sentiment continues to suggest a high degree of complacency in the face of the recent market deterioration.
SPX: 2,053/2,091
DJI: 17,586/17,890
COMPQX: 4,935/5,049
DJT: 7,987/8,306
MID: 1,496/1,527
RUT: 1,242/1,273
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