Stock Indices Pause At Important Resistance

The Stock Indices have spent the last six trading days paused at or around extremely important resistance levels. While the pause has continued, the internals continue to deteriorate. While they can always strengthen to support another rally, that typically happens around a news event. The employment numbers today resulted in higher bond prices and a Stock Market that appeared to be unsure of whether value was higher or lower. The resolution to the current rotation will be very important for the next greater degree time and price move.

Leave a Reply

Your email address will not be published. Required fields are marked *