Guy S. Ortmann, CMT | Jul 07, 2015 08:22AM ET
Options Data Slightly Positive
Opinion: All of the indexes closed lower yesterday with increased volume and negative internals. However, no support levels were violated on a closing basis as all closed near the midpoint of their intraday ranges. All of the current short tern downtrends remain intact. The data remains mostly neutral but the Put/Call Ratios are suggesting some possible very near term lift, although whether it will be enough to shift the current trend remains to be seen. We would respect the current trends unless they are violated. As such, we are short term neutral/negative while remaining cautious for the intermediate term.
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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