Stock Indices Gap Lower And Pause

The stock Indices opened lower today but then spent the rest of the day in rotation. While breadth and new highs minus new lows are supporting the move lower, volume is declining. Therefore, the move down is not attracting new sellers. Lack of volume and intermarket divergences give me a little concern over the continuation of this move. However, as long as the SPY is below 410 it suggests a move lower is possibly the higher probability.

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