Stock Indices Have Late Day Selloff And Reach Important Support

The Russell had a significant downturn today. The S&P is testing an important support level. The NASDAQ is close to the S&P but showing more strength. While the afternoon selloff was significant, and the Indices closed at their lows, there are still inter-market divergences, and the market internals are not very weak. That can change tomorrow. On any lower low, it will be important for breadth to weaken. If it does not, expect a pause or rotation back up due to the price being at short-term support.

If the March 19 lows are broken, the next level of support is significant at the March 4-5 lows.

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