Off the Charts

The market drifted higher for most of the day in a quiet session before fading off highs into the close. The S&P closed the day up 0.37%.

The upper level wedge continues to develop, and at this point there is not a lot left to say. This pattern is healthy for the market to consolidate recent volatility but it does create some choppy action in the short-term. Time and patience are key as the pattern builds. As the pattern continues to tighten, traders will be watching closely to see which direction it resolves to forecast the next leg in the market....525 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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