Okay, bulls couldn't hold all of their gains by the close of business, but their attempts at breaking the consolidation still have merit. None of this changes the overbought condition of breadth metrics, but it suggests a mini-rally could emerge before breadth is again in heavily overbought territory.
The S&P managed to edge a break of declining resistance on confirmed accumulation. Bearish technicals remained bearish, but the net technical picture is still bullish.
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