Stock Indices End The Day In Countertrend Move

The Stock Indices appear to have completed a countertrend move to the recent rally off a greater degree time and price move lower. After reaching an extreme overbought condition on Friday, prices consolidated and worked off the overbought condition, allowing for the potential for a move above Friday’s high. Any move below today’s low, suggests something greater to the downside may be developing. Watch for a divergence in breadth on any high above Friday’s.

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