Market Internals Weaken

10/26/2009 9:25 am EST


Thomas Aspray

, Professional Trader & Analyst

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The major averages and the market internals reversed from positive to negative Thursday and Friday, which is a negative sign. The Summation Index did not confirm the new highs last week and is now below its WMA. This increases the odds of a further decline with converging support at 1020-40 on the S&P and stronger support at 1000.

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