Stock Indices Bounce Off Support And Rally

As you will see in the Briefing, the Stock Indices tested the upper extreme of a multiple timeframe rotational pattern on Monday. The rest of the week was spent rotating lower to test the lower extreme and bouncing off of it today. The rally was strong in terms of price development and market breadth certainly supported it. However, volume is declining once again coming into resistance. If there are higher prices on Monday above today, watch for a divergence in breadth that could signal a pause or rotation back down.

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