Stock Indices Reach Important Support

All three of the Stock Indices I track reached important support levels in today’s trading and bounced off of it. Breadth has been strengthening for the last three days, suggesting the possibility of a rotation up, as support was approached. Employment numbers are out tomorrow morning. They will have a large impact on the determination of value. However, if the current support levels are broken and closed below, it will increase the probability of a test of the June 17 low.

Leave a Reply

Your email address will not be published.