As I have discussed in recent Briefings, the Stock Indices have been in a multiple-day pause and the market internals have been deteriorating, suggesting a possible higher probability of some type of selloff. Using the extremes of that pause offers a potentially good trade location. Strategic analysis along with tactical entries were instrumental in a good trade.

At the end of the Briefing, I discussed how I used the analysis of a countertrend move to position for a good trade and predict a potential stopping price. Keep in mind, what was support today is now resistance tomorrow.