Stock Indices Appear To Be Completing A Countertrend Rotation

The Stock Indices today opened right into a Key Reference Area I discussed in the Briefings this week. They bounced off of that area. Today’s Briefing outlines a possible upper resistance area that is critical. I expect there will be additional buying tomorrow. If volume and breadth do not confirm that buying, expect the possibility of another thrust lower once this move is complete. On the other hand, if the internals confirm any additional move higher, and if resistance is traded through, then the low is in and we are headed back to test the highs. Tomorrow will be very important.

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