One of the most interesting things yesterday was the excellent market breadth on a relatively flat day. Today we are experiencing the opposite with negative breadth on a flat day.
We have put in several strong positive days negative and flat breadth and I had been thinking the narrowing breadth may continue with the rally. This makes it really tough to trust the upside. Yesterday made me think maybe the breadth was going to catch up and give some real vigor to the upside but today is dashing that thought on the rocks pretty good.
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