Stock Indices Rotate But Internals Show Some Strength

The Stock Indices spent the day basically in rotation. However, as they rotated lower early in the day, market breadth was fairly strong. This led to the rotation back up going into the close. While volume is still extremely low, the strengthening of breadth cannot be ignored. The SPY, QQQ, and IWM are now beginning to approach very important resistance. Trading and closing above that resistance will open the door to higher prices. Holding below will suggest the possibility of another rotation lower.

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