Stock Indices Trade Into Important Support And Pause

The Stock Indices traded through short-term support today and down to intermediate-term support and then paused. Key to identifying the pause was the divergence in breadth discussed in last night’s Briefing. While the Market is still oversold, a break of today’s high or low will suggest the next potential move. Keep in mind, the Indices are in a rotational pattern and have just tested the lower support. Therefore, there is a possibility of trading back up to test resistance again. Breaking today’s low suggests selling could accelerate.

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