Stock Indices Pause After Being Oversold

As discussed in Friday’s Briefing, the Stock Indices were at an extreme oversold condition, suggesting some type of pause or rotation up to work off the oversold condition. However, if the news over the weekend was not good, we could have seen an impulsive move lower. Fortunately, the news was positive for now and the pause occurred. The Briefing outlines short-term support and resistance levels and possible good trade location at the extremes of today’s rotation.

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