Stock Indices Test Important Support Levels

This week the Stock Indices have tested important support levels. Market breadth has declined for the past three weeks. Volume still is not a factor in either direction. It appears traders and investors are unsure of whether value is higher or lower. This leads to low volume and rotational patters as neither buyers nor sellers can gain control. If short-term support levels are broken next week, it will be important for volume to increase to support the selloff. If not, expect another open lower and rotation up.

Leave a Reply

Your email address will not be published.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