Stock Indices Trade Lower On Internal Support

The Stock Indices traded through important support today and closed below that support. This opens the higher probability of a continuation of rotation lower to test the next level of support, which is near the January 24 lows. While the Market is short-term oversold and could spur a pause or rotation to work off the oversold condition, if more fear hits the market, we will likely see additional downside. The Briefing outlines the important support and resistance levels.

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