Guy S. Ortmann, CMT | Jun 21, 2019 11:46AM ET
All of the indexes closed higher Thursday with positive internals on the NYSE and NASDAQ as trading volumes rose on both exchanges form the prior session. Several technical improvements appeared on the charts with the SPX actually making a new closing high. However, the data dashboard is now flashing some cautionary signals suggesting a pause within the recent rally may be forthcoming. With that said, we are maintaining our near term “neutral/positive” outlook for the major equity indexes.
On the charts, all of the indexes closed higher yesterday with positive internals on higher trading volumes.
Some of the data is suggesting a pause.
In conclusion, we are maintaining our near term “neutral/positive” outlook for the major equity indexes at this time with the caveat that some pause/retracement of progress is now more likely.
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