The market is breaking higher and TSLA is continuing lower … my world is perfect!! The one fly in the ointment, however, is the poor showing in market internals today.
You can see that the McClellan Summation Index is falling today despite the bullish action in the large cap market darlings.
McClellan Summation Index – Daily Chart
I don’t really care when the market makes a breakout move above a prior all-time high when the McClellan Oscillator is actually declining. I am watching the internals in the hope of support being found here soon and then a bigger wider, more broad market push higher is launched. That could lead to a real melt up into year-end.
Cheers … Leaf_West