Guy S. Ortmann, CMT | Feb 02, 2016 08:30AM ET
Data Slightly Negative
Opinion: The indexes closed mixed yesterday resulting in very little price change. Internals were slightly negative as volumes declined from the prior session. We remain neutral in our short term outlook as both the charts and data are, in our opinion, suggesting some consolidation of the gains post the January 20 lows as the higher probability. And while the A/D lines for the indexes have improved as the recent rally progressed, we remain of the opinion that there is not enough evidence at this stage to alter our concerns for the more intermediate term.
SPX: 1,875/1,949
DJI: 15,975/16,592
COMPQX; 4,418/4,644
DJT: 6,580/7,022
MID: 1,230/1,315
RUT: 982/1,052
VALUA: 3,888/4,070
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