Stocks Indices Extremely Overbought

As discussed in the weekend Briefing, there were some indications the move lower was coming to an end and a possible move higher was a possibility. That certainly occurred over the last two days of trading. However, now the opposite has occurred. There are inter-market divergences and the Indices are at an extreme oversold condition, suggesting the possibility of some type of move lower tomorrow. Keep in mind. The Markets can stay overbought for a longer time.

DAILY BRIEFING 200204 from Joe Mertes on Vimeo.

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