Where Things Stand

Major equity indexes face a pivotal test at critical horizontal resistance levels.

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Source: DepositPhotos

Thanks to the, ummm, holiday of Juneteenth, indexes were frozen in time as of yesterday (even though futures were permitted to be open). The four major indexes all tell me the same story: so long as prices do not exceed the horizontals I’ve drawn, we have a very real change of the first meaningful drawdown of the year. The stars have all lined up.




STOCKS IN THIS ARTICLE

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