Stock Indices Pause As Anticipated

As discussed in last night’s Briefing, the Indices were extremely oversold suggesting a higher probability of some type of pause or countertrend rotation. A pause is what they gave us. At the close today, they are neither overbought nor oversold. This means we could see a continuation of the pause or even a slight rotation higher. The extremes of today’s rotation will give a clue as to the potential for the next short-term move.

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