Stock Indices Turn Lower On Environmental Events

The Stock Indices turned lower today based on comments from Fed Governors, events in Afghanistan, and the Fed Chair speech tomorrow. These events can have a large impact on the perception of value on the part of traders. As a result of today, the Indices are overbought but not at an extreme. Volume is very low. This suggests there is simply no selling or buying pressure. For weeks, the Indices have been in a rotation with a slightly upward slope.

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