Guy S. Ortmann, CMT | Jan 25, 2016 08:39AM ET
All Indexes Above Short Term Downtrend Lines
Opinion: All of the indexes close higher Friday with broadly positive internals as volumes declined slightly from the prior session. Positive events took place on the charts including all closing above their short term downtrend lines. However, the 1 day McClellan OB/OS Oscillators are now neutral across the board as well as some other data. So although we still suspect respective resistance levels will be be challenged, our near term outlook has turned neutral/positive while the intermediate term remains cautionary.
SPX: 1,822/1921
DJI: 15,383/16,340
COMPQX; 4,418/4,644
DJT: 6,580/7,022
MID: 1,230/1,315
RUT: 982/1,052
VALUA: 3,803/4,070
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