That green line is the "Punters Line" they will if we can get below that talk about a down trend... and the day traders will apply more sell pressure. It has a good Descending look.... Sentiment "Feels like" its on the Wane or is it Wain. But also realize that sentiment is still very positive, they are all talking about pull backs.... There was a guy today... Sort of talking the "Buy the dip" and when asked "what are you buying" he had that look on his face like.... "buying... I'm waiting to sell when the last sucker comes in...."
Breadth.... so... the NYSE was making more new highs on Thursday, but the number on the SPX were not. expanding.
again the Objective Breadth indicator on the NYSE was expanding but the spx and the naz were not... and were still showing divergence....
Well that is how my confirmation bias Reads.....
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