Was Today An Exhaustion Move In The Stock Indices?

Today’s trading in the Stock Indices was very interesting. The internals were extremely weak and volume strong. However, as the Indices traded down to support, buyers stepped in and drove price higher on strong volume. Could it be sellers exhausted themselves and we will see strong buying tomorrow? Trading through the low of today will negate the bullish exhaustion analysis and suggest lower prices. Trading above today’s high on strong volume will suggest the potential for a very strong bullish move. The first hour of tomorrow could prove to be very important.

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