Stock Indices At Critical Decision Point

As you will see in the Briefing, the Stock Indices are at a critical pattern development. What happens tomorrow or over the next few days will give us the information we need to determine if another leg lower is in the making. Understanding the development of price in multiple timeframes is extremely important. If the gap from today is closed and near-term support is broken, it will raise the probability of another substantial selloff. On the other hand, if today’s high is traded through and volume increases, a test of the highs may be a greater possibility. While the Indices were up today, volume was extremely weak, giving concern over the sustainability of the rally.

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