The major stock indices have broken support, thereby triggering a short-term sell signal although it might be prudent to wait & see how the market trades once the institutions step onto the field after the opening bell at 9:30 am before taking a full short position or exiting longs (for active traders). Additionally, we have both CPI & Jobless Claims to be released at 8:30 am today which is likely to either cause the futures to pop or drop, depending on how those reports go. The 60-minute charts of /ES, /NQ, SPY, & QQQ below list some potential pullback targets.

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