The S&P Bullish Percents were finally able to break resistance which had long been surpassed for other breadth indicators. It was the last to do so.
The Percentage of Stocks above the 50-day MA is in rarified air and has the same strong bullish divergence at play.
As for the indices the Russell 2000 is soon to come up against 517 resistance
And the Nasdaq 100 is just a few points shy of 2006 lows
Take profits but be ready to buy again in a month or two time?
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.