Dow Jones Industrial Average: +49.88 or 0.53% at 9547.22
S&P 500 Index: +7.98 or 0.87% at 1033.37
NASDAQ Composite Index: +22.62 or 1.11% at 2060.39
NYSE Internals: 2191 Advance. 843 Decline.
This market is starting to get weak. It may not look like it on the charts, but internally it is starting to fade. The RSI continues to diverge, volume keeps declining, and the market is looking tired. The moves upward are losing their impulsive feeling.
Tomorrow basically has to be a down day, otherwise we may have a run towards 1050 on the SPX. We almost hit the 100% Fib retracement today.
We sold off in the middle of the day, but the bounce at the end seemed corrective. If that is the case, the weakness should continue into tomorrow.
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