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- Market Internals today 07/18 are calling for a continuation of bullish action tomorrow morning.
- That being said, market internals can quickly change, i.e. the S&P 500 starts to trade below its 100 SMA and the Breadth Ratio reverses to show bearish sentiment.
- If tomorrow we see a continuation of the bullish market internals, then look for a potential retracement of $JOY to the Kijun-Sen or the 20-period SMA for a good risk/reward potential back to the prior highs.