Market Internals Weigh On Price Development

As I have been discussing through the week, the market internals have not been confirming the continuation of the rally in the Stock Indices. That led to the reversal in price that we saw today after the first hour and a half of trading. Short-term support levels were tested, but only broken in the QQQs. If those levels, as discussed in the Briefing are broken on Monday it opens up a test of intermediate-term support that is extremely important. If broken, it will break the recent series of higher highs and higher lows.

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