The current stock market rally is overbought and nearing broader overhead resistance.
The next few days will likely decide if stocks go higher yet or pull back now.
Here is a summary of today’s video:
– Four-day rally takes the S&P 500 (NYSEARCA: SPY) toward price resistance near 2,600.
– The Russell 2000 (NYSEARCA: IWM) and small Cap stocks are still bearish despite a strong rally.
– Breadth metrics have improved but are overbought in the short-term.
Stock Market Today Video – January 10, 2019
Twitter: @DanRusso_CMT
Author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
