Uptrends Intact, but Stocks May Take a Quick Timeout

All of the near-term trends remain positive on the charts as do the cumulative advance/decline lines, suggesting the trends should continue to be respected, until proven otherwise. However, the combination of valuation and stochastics may imply some slowing of momentum or partial retracement of recent gains over the short term. This would not be unusual given duration and magnitude of the recent rally.

The bulk of the indices closed lower Thursday, the one exception being the Dow Jones Transports, which advanced. Internals were negative on the NYSE and Nasdaq as volumes declined from the prior session on both exchanges....207 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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