When analyzing NYSE data more relative strenght can be found but a brief look to Nasdaq and some internals reveal the rally is weakening and leaving an open door to a meaningful correction.
Nasdaq 100
My favorite index to watch when looking for trend reversals.
Market internals as of 07-30
Some divergences could be found that favor the ending of this rally
Oil- I used a oil-gold ratio chart to disect inflation factors. Though is not terminant, bearish signs are arising
A quick look at EU indices
FTSE 100
P/C ratios:
Extreme equities traders bullish sentiment like current has been faded by the market short after.
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