The Ride on This Slide Isn't Over

Monday's rally did little more than regain a part of the losses of last week, and was to be expected as a reaction to the sudden, sharp drop. 

In terms of the S&P, as seen on the first chart below, the support of the prior two weeks was decisively broken with heavier volume and a wide trading range. Also, the low on Thursday was through the lower line of the up channel going back to May. Monday's rise was on unimpressive volume and a narrower trading range. All this comes after a wide consolidation with very narrow trading ranges producing a number of "red cross" days on the Candlevolume chart. ...197 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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