Surprise Selloff Brings Price To Support Levels

Price in the Stock Indices ground higher today on diverging breadth. While I am unsure of the reason for the late day selloff, the Markets are at short-term support. They closed at the lows of the day. That suggests possible follow-through tomorrow. If that occurs, they will break short-term support and open up the possibility of testing longer term, very important support levels. Volume increased on the selloff supporting the move.

Leave a Reply

Your email address will not be published. Required fields are marked *