Guy S. Ortmann, CMT | Oct 07, 2015 08:56AM ET
NYSE 1 Day McClellan OB/OS Remains Overbought
Opinion: The indexes closed mostly lower yesterday taking a pause from the prior rally. Internals were positive on the NYSE as volumes declined while they were negative on the NASDAQ as volumes increased. No major technical events took place while the data is a mixed bag of positive and negative levels. As such, we continue to be of the opinion that the near term will likely be neutral in nature as further work may need to be done before new breaks of resistance can be achieved. The intermediate is neutral as well as the NASDAQ A/D remains in a downtrend and yet to reverse and follow in the footsteps of the NYSE.
SPX: 1.930/1,989
DJI: 16,302/16,925
COMPQX; 4,552/4,783
DJT: 7,665/8,058
MID: 1,350/1,426
RUT: 1,083/1,148
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