Stock Indices Appear To Have Completed A Countertrend Rotation

As discussed in yesterday’s Briefing, the price projection of a high for today was almost exact before seeing the rotation lower. The internals are not strengthening, suggesting the three day rally is weakening. Upside Key Reference area for tomorrow is today’s high in the Indices. If, by chance, it is traded through, it will suggest a change in the determination of value. Trading through the leg 2 low will raise the probabilities of the beginning of another leg lower and a break of longer-term support.

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