As mentioned in the New 52 week high post, the NYSE was the cause of weakness today. We will watch in the live trading room in the first 30 minutes at the open to get a feel for how the breadth is performing. You can see it in our live A/D line indicators as well as the market thrust indicator.
If we confirm during the day that the NYSE is going to turn to bullish long and the RUT and the NADQ maintain their long sentiment then I will be scalping on the long side. If these don't set up I will be setting myself up to short in a 10 day window from here.
See you all tomorrow in the room.
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