StockCharts Blogger Arthur Hill has a nice article out this week. He is calling the market action as a correction within an uptrend. Click here to read the blog post where he analyzes the broad market ETF's.
The last two weeks have shown some weakness developing in the NYSE Highs/Lows Differential and the NYSE Advance/Decline ratio. The major indexes appear to be heading towards their 30 week moving averages but have not broke through yet. All of the leads me to signal the caution sign.
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