We Have Our New Range

We now have our new range for the S&P 500. This consolidation pattern is not a good sign for the overall index, as it typically continues the prior trend, which in this case would be down. I’m noticing a drop in volume during the range period. I’ll be watching for the level of volume we experience when this pattern breaks, whether it happens on a heavy or weak trading. ¬†

 

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About Andrew Thrasher

Andrew Thrasher is a Portfolio Manager for an asset management firm in Central Indiana. He specializes and writes about technical analysis as well as macro economic developments.