.. the NYSE was weak today, especially when compared to its stellar performance a week ago. That now makes two days in a row that the NYSE was not able to turn the bullish corner. In the past month of chop the NYSE has been the leading signal to which the others caught up. So either that cycle has been broken today or the NYSE weakness is signaling the top is in place and we are getting ready for a pullback in here.
The number of new highs closed today on the NYSE was 292. In order to move our 5 DMA momentum indicator for the NYSE long bullish column we will have to establish a pace our around 100 at the initial 30 minute open. That is only 1/2 of what we needed today. So a weaker opening than today is still possible to keep the momentum moving upward. A great opening and we will be on board for another thrust up to new highs.
The opening tomorrow should be a good hint at what the day has to unfold.
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