Stock Indices Pause At Support

The Stock Indices are basically paused in the short-term at the upper extreme of an intermediate-term rotation. Volume is falling off. This suggests there is not enough buyers to continue driving price higher. Also, the divergences between the Industrials and Transports are very concerning. The Fed chair will be speaking this week and that can change the perception of value on the part of traders. Therefore, use caution in the next two days. If short-term support or resistance is broken, it can give a good indication as to the next greater degree time and price move.

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