MARKET BREADTH NYSE
Net Advancing Issues -1,079
Net New Highs -199
Net Up Volume -3,311,639,660
TRENDS
*PRIMARY PROVISIONAL DOWNTREND | Directional wave | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Directional wave | Resistance 13136
*SHORT TERM DOWNTREND | Consolidation | Resistance 12320
TECHNICAL ANALYSIS
For the past 6 days the index congests within a 200pt range that could qualify for a sideways correction. If this is the case, then a correction rally becomes less likely and a reasonable expectation is that this sideways correction will eventually break to the downside and resume the directional wave of the minor downtrend.
Net Advancing Issues -1,079
Net New Highs -199
Net Up Volume -3,311,639,660
TRENDS
*PRIMARY PROVISIONAL DOWNTREND | Directional wave | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Directional wave | Resistance 13136
*SHORT TERM DOWNTREND | Consolidation | Resistance 12320
TECHNICAL ANALYSIS
For the past 6 days the index congests within a 200pt range that could qualify for a sideways correction. If this is the case, then a correction rally becomes less likely and a reasonable expectation is that this sideways correction will eventually break to the downside and resume the directional wave of the minor downtrend.
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