Market Internals Finally Weigh On Price Development

As I have been discussing for the last two weeks, the current rally off the February 24 low in the Stock Indices is weak and has been weakening with each passing day. Today, the weak structure of the rally led to a significant price decline from important resistance areas. If this is the beginning of another leg lower, the resistance areas are extremely important going forward. They should not be broken. The Briefing outlines significant support levels that if broken will possibly open an impulsive move lower. So far, today’s selloff was not impulsive from an internal perspective.

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