Guy S. Ortmann, CMT | Feb 15, 2018 12:06PM ET
All of the indexes closed higher yesterday with positive internals as volumes rose from the prior session on both the NYSE and NASDAQ. The index charts saw several technical improvements including multiple violations of resistance, thus improving their outlook. The data is unavailable. Yet if we focus strictly on the chart action, while several resistance levels still need to be overcome as well as improvement in breadth, we are inclined to shift our “neutral” near term outlook to “neutral/positive”.
Some Resistance Levels Violated
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