Summation Tick chart above shows hourly Sell Divergences and ticks more overbought than oversold.
Weakness in small caps has kept this indicator from hitting the extremes that it
otherwise would on this type of rally. Each day share have hit all time highs and have
displayed good upside momentum, but it is not a broad based rally. For today: The top chart shows the key levels.
A close back below 1978.25 coul indicate a bull trap. It is unlikely for this market to give up much ground, though,
with the residual upside momentum that has been seen in shares like IBM.
Short reactions up in Bonds and tens.
HAVE A FABULOUS WEEKEND and lets start to get ready for August!
Markets in Breakout Mode: