Guy S. Ortmann, CMT | Jul 23, 2015 08:29AM ET
Opinion: The indexes put in another mixed performance yesterday with only the MID and RUT gaining ground. It qualifies as a day of distribution as internals were negative with volumes ring on the price declines. No technical signals were triggered while the data has turned almost entirely neutral. As such our near term outlook is now neutral while the intermediate term remains a concern due to valuation, poor breadth and leverage while some of the charts have developed intermediate term downtrends.
SPX: 2,100/2,130
DJI: 17,793/18,120
COMPQX; 5,103/???
DJT: 8,175/8,410
MID: 1,482/1,510
RUT: 1,244/1,274
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