Stock Indices At Multiple Timeframe Key Reference Area

The Stock Indices are at multiple timeframe Key Reference Areas. However, the internals of the market are not strengthening. If there is to be a breakout to the upside, it could be a substantial move. On the other hand if the breakout occurs and is not supported by market internals, we could see a rotation back to the downside, leading to breaking short-term support and then intermediate-term support. Any breakout that occurs, must be supported by the internals, especially if it is to the upside. Currently, we are at a great area for trade location.

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