In the very near term, yesterday's intraday highs of the major indices are pivotal levels of resistance. If stocks get above yesterday's highs, preferably on higher volume, it would cause most of the main stock market indexes to reclaim their 50-day moving averages, perhaps improving near-term bias of the overall market.
Mike Paulenoff's intraday pattern work in Apple (AAPL) argues that the correction of this morning is nearing completion ahead of a resumption of strength.
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