Are The Indices Completing A Longer-Term Countertrend Rotation?

The Stock Indices moved higher today and then paused. Both volume and breadth diverged. On a daily chart it is possible they are completing a longer-term countertrend rotation. While it does not preclude them from moving higher into the end of the week, any additional upside should be followed with increasing volume and breadth. Failure to see the internals strengthening suggests the risk is to the downside.

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