Stock Indices Appear To Move Below Neckline

In previous Briefings I have discussed the possibility of a head and shoulders top in the SPY and QQQ. While price has basically rotated around the neckline, today saw a move below that rotation. Tomorrow will be very important to the development of that technical pattern. Price closed at the low of the day, suggesting possible follow-through tomorrow. If there is no follow-through, then the pattern will be in jeopardy as too much time is elapsing.

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