Inside Out
Martin Goldberg agrees that there are some “Internal Problems” starting to threaten the health of this market:
As the market averages stage yet another rally, market internals continue to degrade. It is quite possible that the advance of the major averages can continue into the favorable year end seasonality in a similar fashion as was the trend in last bull market. Another short and shallow correction lasting at most two to three weeks is also a real possibility for the major averages in the short term. This would continue a trend that has been fairly consistent since August. However, there appears to be a new phenomenon in the market that warrants watching since if it continues, it is probably indicating something more meaningful than the typical short shallow correction of less than 10%.
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