Friday, July 16, 2010

Market internals update

I'd be very careful about bullish trades today. The market internals are very weak, A/D lines down over 2000 on the NYSE and breadth is very weak too. Cumulative ticks have trended straight down and we are at minus 16,000 already. This could be a trending day down......

Still GS is holding up strong which is what I expect if there is real strength in a stock (up when everything else is down).

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