As if the markets knew I was out of town, they continue to trade sideways. This doesn't bother me as whichever way it breaks, it will be decent having almost gone sideways for nearly 3 trading weeks. Previous consolidation patterns similar to this have lasted just under a month recently, so the clock is ticking.
On the S&P 500, the upper level is still 1850. It has proven a very sturdy resistance. On the low side, I'm sticking with below 1815 as the breaking point.
The Dow industrial is still consolidating as well, and is offering upper resistance of 16500-16550. Lower support would be a decisive blow below 16200. We shall see.
The Russell 2000 broke out of it's consolidation 4 trading days ago, and appears strong. It may be a clue of things to come.
S&P 500 Daily Chart
Dow Jones Industrial Average Daily Chart
Russell 2000 Daily Chart
*add a 'followers' block...will likely have more people add you to their blog reader lists.
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I realise some don't like it though.
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Thanks for the tip! I'll definitely look into that.
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