Stock Indices Reverse After Opening Higher

As I have discussed in several Briefings, it is always the day after a FED announcement that is important. In yesterday’s Briefing, I outlined a possible strategy for approaching today’s market. That strategy played out nicely. Today’s selloff moved the Indices below important short-term support levels. Important for tomorrow will be the intermediate-term support levels. If those are broken, it opens the possibility of a larger degree time and price move. What was support today is now resistance for tomorrow.

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