Stock Indices Pause And Work Off Overbought Condition

The Indices mostly paused in today’s trading to work off an overbought condition discussed in the Weekend Briefing. While they did put in a slight new high above Friday’s high, market breadth continued to deteriorate along with volume. The Indices are at important resistance. Any breakout should be accompanied with strengthening breadth and increasing volume. I am most concerned over the lack of volume on this rally.

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