Internal And Intermarket Divergences Signal A Selloff

Once again, the intermarket and internal divergences signaled today’s selloff in the Stock Indices. While there was a slight recovery going into the close, I would normally expect follow-through tomorrow. However, there is a Fed announcement tomorrow and it is impossible to determine the market’s reaction to that news. I suggest allowing the volatility to settle down after the announcement and then determine the next degree of trend direction.

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