Stock Indices Reach First Level Of Resistance

The Stock Indices today reached the first level of resistance discussed in last night’s Briefing. However, it does appear they are developing in another three-step countertrend rotation. Additionally, volume is extremely low. An overbought condition was reached today, so what happens tomorrow will give us more information on the intermediate to longer-term timeframe price development. Most concerning of the rally today was the very low volume. This rally is not attracting new buyers, at least for now.

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