The Stock Indices opened lower today. Volume was high in the first two hours of the decline, but Breadth was diverging, suggesting the possibility of a rotation up. That is exactly what occurred. While the rally off today’s low was a low volume event, it appears the selloff may be complete. That would be negated, if the short-term support levels are traded through. Should that occur, breadth should be weaker than it was at today’s low. If not, expect another rally.
