Off the Charts
Talk about summer doldrums. This market continues to hover at the top of its range but lacks momentum to successfully break out above it. Charts continue to look constructive as they form new bases, but overall there is not a whole lot to do right now, if you chose to trade at all.
There was no follow-through to the downside today after yesterday's push through failure above 1407. The bulls remain in control without much concern. The market is still in an uptrend, above key moving averages and above the accelerated uptrends that have supported this rally since the June 4 low. At this time of year, there is just not enough participation to power through the upper range successfully, but overall bullish composure is still intact....586 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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