I think that I think the stock market can continue to bounce here, but 2 (among several others) internals indicators remain bearish.
The Transports are negative today, in an intermediate downtrend (despite crude oil’s tank job) and are diverging the Dow, which is trying to bounce.
Junk bonds, which flew every step of the way with the risk ‘on’ trades not only no longer offer a positive divergence, but are in breakdown mode. So too is Junk/Treasury and Junk/Investment Grade.
Until these and so many other indicators get fixed the market is in trouble.
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