Off the Charts
The range continues to build as the S&P 500 consolidates between support of 1395-1398 and resistance of the outside day from Aug. 21. It was a fairly lackluster day in the market as traders wait on the sidelines for the European Central Bank meeting tomorrow and the jobs report on Friday.
This is a tough spot in the market, as the range is getting very tight in the S&P. There should be some resolution in the next day or two. Once a direction is decided, that should be the trend for several sessions after. A move below 1398-1395 should put some pressure on this market, but a move above 1414-1416 puts the S&P in motion to take out recent highs....650 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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