A Mark of Indecision
The market has been like a roller coaster of late, and several readers have inquired about what the action might mean. Well, these sorts of moves tend to indicate indecision, which means the market tends to be at or near an inflection point. Heck, in this market that probably just means it'll proceed sideways!
If you did want to assign a name to the pattern that we've seen, the best I can come up with is on a 30-minute chart of the S&P 500 -- which looks like a broadening top. This is a pattern that features a series of three higher highs and two lower lows, which together form a megaphone formation. (Please keep in mind, of course, that the 30-minute chart is far different from a daily.)...379 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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