Stock Indices Work Off An Oversold Condition

The Indices today traded lower on diverging breadth. This resulted in that drove the Market higher, as anticipated in last night’s Briefing. However, they still remain at or near important support/resistance levels. If the rotational analysis is to be eliminated and the bearish price pattern exert itself, it will need to occur soon. The longer price lingers at current levels, the greater the probability of some greater degree rotation back up.

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