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Market Outlook Oil Compressing
MarketGauge.com

Price action is strong, but underneath the hood market internals tell a different story, showing a lack of participation. When this occurs at new highs it’s called the Hindenburg Omen. The Hindenburg airship blew up in 1937, I will leave the rest to your imagination.

Our Alpha Rotation trading models uses market internals to measure the risks of negative price action leading to a market decline. The combination of negative price action and weak internals will lead to sell signals. Last week these risks were high, and the pullback in IWM led to some profit taking there.

The SPY and QQQ models, on the other hand, remained bullish as these markets continued higher without any sign of weak price action.
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