Stock Indices Gap Into Resistance And Immediately Reverse

Based on today’s CPI announcement, the Stock Indices opened right into resistance and immediately reversed. This makes the resistance levels extremely important. So far, the strategy of the rally being a countertrend move is holding. On the other hand, the Fed announcement tomorrow can change the perception of value on the part of traders and that will change the analysis. Use caution in front of, not just the announcement but the comment period afterward.

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