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The indexes closed mixed Monday with one managing to post a new closing high. Internals were positive on the NYSE and NASDAQ as volumes declined on both exchanges from the prior session. Other than the one new closing high, no other technical events of import were generated on the charts. The data remains mixed but some of the sentiment data is intensifying its cautionary tone. For various reasons discussed in these comments over the past several sessions, the concerns that have kept our “neutral” near term outlook in place persist and appear to be bearing fruit this morning.
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