The 2 most important internals we can measure are sentiment and breadth.
Sentiment is going higher, but breadth is starting to show cracks.
The are many breadth measures, including: McClellan Oscillator, advancers vs decliners, equal weights.
Both had been holding up very well; however, the breadth is starting to show downtrends, suggesting we are due for a correction.
I have been following a chart from an analyst at Schwab, which shows the correlation between 2009-2010 SPX chart VS the 2020-2021 SPX chart. And it has been following it CLOSELY. This chart also suggests we are due for a 8% correction (drawn in the chart).
Let me know if you want the article, it is free on the Insight Schwab website.
Always rely on your stop-exits. Volatility is growing higher.
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