In last week’s Briefing I discussed using an old analytical tool I have not used in a few years. It appears that tool still had relevance in today’s market. It did suggest there was at least one more thrust lower before we could see a short to intermediate term pause or countertrend rotation. That lower low did come in today’s trading. It was accompanied by strengthen internals, which suggest tightening stops and using caution of short positions. Of course, if there is any bad news that hits this market again, we will see a continuation of lower prices. If there is a pause or rotation up, how it develops will be extremely important.

DAILY BRIEFING 200323 from Joe Mertes on Vimeo.