Guy S. Ortmann, CMT | Jan 16, 2018 08:57AM ET
All of the equity indexes closed higher Friday with positive internals on the NYSE and NASDAQ as volumes dipped on the NYSE with NASDAQ volume rising slightly. All of the indexes made new closing highs, leaving their short term uptrends intact. The data, however, is starting to wave some yellow flags although none are what we would consider extreme at this point. As such, we remain of the opinion that the current near term uptrends of the indexes should continue to be respected until proven otherwise.
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