Volume Signaled Today’s Selloff

As discussed over the last several Briefings, volume in the rally was declining each day. This suggested some type of rotation lower. While today’s move was based on the CPI news, I wonder if the majority of money in the market sensed the coming news and they stepped back from buying, which led to a decent selloff today. The question now is whether there will be additional follow-through the rest of the week or if this is a one-day event and the entire move will be retraced. The Briefing outlines what to look for in the coming days.

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