Guy S. Ortmann, CMT | Aug 04, 2015 09:02AM ET
Options Data Turns Positive
Opinion: The indexes closed mostly lower yesterday, the exception being the DJT. Internals were negative as volumes declined from the prior session. No important technical signals were generated as all remain confined within their respective near term trading ranges. The data is largely neutral as well with a slightly positive tone coming from the options levels. As such, our short term outlook is neutral/positive while we remain quite concerned for the intermediate term due to poor breadth, valuation and leverage levels.
SPX: 2,063/2,109
DJI: 17,376/17,795
COMPQX; 5,020/5,144
DJT: 8,127/8,444
MID: 1,454/1,505
RUT: 1,210/1,245
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