Strong Warning Signals Persist as Markets Skate on Thin Ice

While the major equity index charts remain in near-term uptrends and lack sell signals, the data dashboard is sending strong signals that stocks have a high probability of entering a rough patch over the relatively near term. On the charts, the major equity indexes closed mostly lower Thursday with mixed NYSE internals as breadth was negative while up/down volume was positive. The Nasdaq had negative internals on both counts.