US Equity indices approaching support after four down days

US equity markets remain trending lower in the short run, but are close to near-term support which should materialize between 12/21-12/23 at marginally lower levels.  While daily momentum has not yet reached traditional oversold levels per Relative strength index (RSI), we’ve begun to see RSI show positive divergence on two-hour charts of QQQ and SPX.   Furthermore, the percentage of stocks above their 20-day moving average is nearing Singl...

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