Good Tuesday morning. Back to back days with weak internals, as the markets look to be consolidating gains from ATH's.Our major indexes are coming off of heavily overbought levels but with room to run before hitting extreme overbought levels. Last weeks shakeout, prior to MSFT and META earnings, relieved some of our overbought conditions. The VRA Investing System remains at 10/12 Screens Bullish, a green light for investors over the medium to long term. 

VRA Trading Note: Combined with weak internals and the fact that February is not a reliably strong month, especially in election years, we may see some “backing and filling” in the short term. This does nothing to change our bullish views on the markets in the medium to long term and we will continue to use weakness to “buy dips”, the smartest of smart money strategies from the 10/13/22 bear market lows.

Key for us, just 64% of the S&P 500 is above their 50 dma while only 71.2% are above their 200 dma. As we started 2024 thes...