Market Internals 2011-07-11

Here is a quick update on the market internals.

Last update is available here.

Last update correctly called the bottom and wild swing all the way up happened.

At this point we have Tick16 Long Term confirming the bullish condition thus pullbacks should be bought.

Right now, 3-Day Advance Issues is oversold. A short term bottom should be in place within a day or two. The first hook up from 3-Day Advance Issues should be the signal confirming the bottom is in.

I expect year high will be challenged again and that new high is likely.

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