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Some Index Charts Turn Neutral From Positive

Underlying Market Structure Improves

Underlying Market Structure Improves Jun 02, 2021 | 10:35 AM EDT Despite a dull trading session, some of the charts of the major equity indices managed to close above resistance Tuesday, with one making a new closing high. Market breadth remains positive as well. Indicators suggest the market is now overbought, which may create a short-term headwind for the market, but this is being somewhat counterbalanced by further improvement in investor psychology. The new bear/bull ratios show another decline in bullish sentiment continues to relieve what had previously been an overly optimistic outlook on the part of investors. On the Charts Source: Worden

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