July 11, 2020 07:34 PM RSS

Chart of The Week: S&P 500 Range Bound, But That Is Coming To An End

  • Wall Street Rebel | Geoff Garbacz
  • 08/22/2016 05:24 PM
Chart of The Week: S&P 500 Range Bound, But That Is Coming To An End

Since the breakout of the S&P 500 via SPY on July 8th above $210, it rocketed above $215 by July 14th. Over the next 16 trading days, SPY consolidated between $215 and $217.50 before moving to a new range.

That new range is $217.50 to $220. That range has been in play for 12 days. Expect this range to be broken to either the up or downside. We will make a bet on direction this week in Options Index Trader. Currently, we have no stock bet on the major equity indexes.

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