Technical Review And Outlook - March 22, 2018

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Includes: ACWF, ACWI, DDM, DGT, DIA, DOG, DTEC, DXD, EEH, EPS, EQL, ESGF, ESGW, FEX, FIGY, FIHD, FLQG, FLQH, FWDD, GLQ, HACW, HDMV, HUSV, IVV, IWL, IWM, JHML, JKD, OTPIX, PPLC, PPSC, PSQ, QID, QLD, QQEW, QQQ, QQQE, QQXT, RSP, RWL, RWM, RWV, RYARX, RYRSX, SBUS, SCAP, SCHX, SDOW, SDS, SFLA, SH, SMLL, SPDN, SPLX, SPUU, SPXE, SPXL, SPXN, SPXS, SPXT, SPXU, SPXV, SPY, SQQQ, SRTY, SSO, SYE, TNA, TQQQ, TWM, TZA, UDOW, UDPIX, UPRO, URTY, USSD, USWD, UWM, VFINX, VGFO, VOO, VT, VTWO, VV, WBIL, XMX
by: Robert W. Baird & Co.

Summary

Rally off of February lows failed to produce upside breadth thrusts and is getting narrower.

Recent new highs on the NASDAQ Composite came with internal and external divergences.

Global stock markets look particularly out of gear, but domestic rally participation has been lackluster as well. Sentiment indicators point to a rebound in optimism.