Indices Continue In Rotational Pattern At Important Resistance

The SPY and QQQ continue in a rotational pattern at very important resistance. While the internals continue to deteriorate, price development is holding at resistance. If there is a breakout to the upside, it will be important for the internals to begin to strengthen to support that breakout. The Russell (IWM) is at important support and may be signaling weakness along with the internals. Short-term support and resistance areas are outlined in the Briefing.

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