Stock Indices Go from Oversold To Overbought In One Day

After Monday’s selloff, the Stock Indices were extremely oversold. In that Briefing, I suggested there will likely be some type of rotation up to work off the oversold condition. After today’s trading, they are now extremely overbought. Additionally, the intermarket divergences have not been eliminated, and except for Breadth, the other internal divergences still exist. So, we are in the same place as Monday. How any rotation lower develops will be extremely important.

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