It’s 2 trading days since our Hammer Time post, that foretold a bounce. Talk about a tough market. Up, down, up, down. The S&P 500 already set a record last week with its number of times crossing the MA 50 in 2015 (with several months still to go), and now this week is +2 more, up and down.
Here’s the updated chart from Friday’s post. The market is going to break the Symmetrical Triangle soon enough and then all this up-down stuff around the MA 50’s will be over.
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