Stock Indices Pause After Breaking Out

The Stock Indices basically paused today after yesterday’s strong breakout. The negative to the move is breadth in all of the Indices is declining. That will make a continuation of the rally difficult if it does not change. While it is common for a financial instrument to breakout and then retest the breakout point, if support does not hold, it will suggest the move is a false move and rotation down will be a higher probability. Watch support levels carefully next week. They must hold on any reversals.

Leave a Reply

Your email address will not be published. Required fields are marked *