Stock Indices Test Short-Term Support

As discussed in last night’s Briefing, the short-term lower extremes were tested in today’s trading. The SPY traded through support but then retested the breakout point. The QQQ bounces off support and closed in the middle of the range. The IWM is showing the most weakness. The Market internals weakened significantly today. However, the Market is at a point of becoming oversold. On any lower prices, watch for internal divergences that can signal a pause or rotation back up.

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