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The S&P 500 is largely unchanged over the last week, as the descending triangle pattern remains intact leaving price action squeezed between the 50 day moving average resistance, and the recent low support.    The Nasdaq briefly broke to a new high before pulling back into range on the heels of a slightly disappointing Apple earnings…click to read more.

A bounce off of the key support levels in the S&P 500 has pushed the market closer to the middle of the range that has been in place since July.  However, the possible descending triangle has not been invalidated yet, and the S&P remains below the 50 day moving average.  The Nasdaq has a more…click to read more.

After a rough day on Tuesday, the S&P 500 managed to hold key horizontal support.  The formation of a descending triangle, while not certain yet, is possible (which would be a bearish formation).  The 50 day moving average may also be acting as resistance, muting for now the broader market’s upside potential. The Nasdaq is…click to read more.

The S&P 500 is being squeezed into a classic ‘pennant’ formation, which often results in a significant ‘pop or drop’ as the up and down trend lines converge. The Nasdaq has a more bullish ‘ascending triangle’ pattern where the upward trend line squeezes the price action up against the horizontal resistance, often resulting in a…click to read more.

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