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- Market Internals today 07/18 are calling for a continuation of bullish action tomorrow morning. - That being said, market internals can quickly change, i.e. the S&P 500 starts to trade below its 100 SMA and the Breadth Ratio reverses to show bearish sentiment. - If tomorrow we see a continuation of the bullish market internals, then look for a potential retracement of JOY to the Kijun-Sen or the 20-period SMA for a good risk/reward potential back to the prior highs.
Market Internals this morning are pointing for bearish sentiment this morning, are forewarned in my post, look for this to break the kumo cloud to the downside and watch to make sure Chikou Span is below price action.