Bit of a sideways day, not a lot to say.  I could argue overbought, though I’ll grant it “feels” more like consolidation based on recent price action and leadership.  In either event, I’d submit a small pullback would be ultimately healthier for the bulls going forward — whether we get that or not is obviously a different matter.  At the mid-day, internals are mixed trend wise, but positive on an absolute basis with up volume still largely outpacing.

Related posts:

  1. 04.27.09 – Still Inside Multiday Range
  2. 09.22.09 – Working on New Highs
  3. 11.02.09 – Quiet Consolidation?
  4. 09.03.09 – Stuck in Second Gear
  5. 10.01.08 – Heading for the 5-Day MA