Off the Charts

Today was another choppy summer session, but the prevailing wind remains to the upside. The S&P continues to trade within this upper level range with no directional follow-through. The market opened in positive territory this morning but then traded lower and to pierce yesterday's low, only to then regain composure by the end of the day and finish in positive territory. The S&P finished the session up 0.28%, the Dow up 0.20% and the Nasdaq up 0.39%.

The range trade continues as we head further into August. Traders tend to find this type of action the most frustrating as we like to see continuation, breakouts and break downs. The better approach right now seems to be taking quick trades by buying at support and selling at resistance....674 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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