Mid-week market update: I am publishing this before the market close on Wednesday because I have an appointment just before the close so many of the charts won't have Wednesday's closing prices. The market structure continues to be bearish, and I continue to believe that the intermediate-term trend is down. Nevertheless, it's too obvious to be bearish, so I'm resisting that urge.
Case in point. Market breadth looks terrible. Even as the S&P 500 remains in a narrow trading range, there are negative divergences everywhere I look.
The full post can be found here.
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