Stock Indices Suggest A Possible Good Move Coming

The Stock Indices spent the last four days in a rotational pattern. They did work off an overbought condition to some degree and it was on low volume. Important to the analysis is the fact the rotation was at an area of unfair price in the next degree of time. This suggests a break outside of the last four days should be a very good move. The indicators also suggest the higher probability of a break is soon.

The day patterns from all of the Indices suggest lower prices on Monday, unless the single prints in those patterns are traded through. Closing at the low of Friday also tends to indicate the possibility of lower prices as well.

The most important Key Reference Area for the beginning of the week is the upper and lower extremes from the last four days of trading. Breaking those extremes will suggest a possible larger degree move is forming. Those are areas of good trade location.

DAILY BRIEFING 200620 from Joe Mertes on Vimeo.

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