Off the Charts

The summer stutter continues. The market rallied off the open this morning, but faded off of highs in the afternoon to break yesterday's lows but wound up finishing the day smack in the middle of the range. The indices finished the day in the red with the S&P shedding 0.05% but the Dow was the weakest index, closing down 0.28%.

When looking at a candlestick chart of the SPDR S&P 500 (SPY), the past seven trading sessions have resulted in a doji candlestick. These candlesticks suggest a lack of commitment on either size of the tape and this lack of commitment makes it very tough for traders to find follow-through. This is an environment to take trades or do less....702 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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