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The two strongest months of the year could do nothing to break the market out of its six-month trading range. And election years tend to be choppy, so there's no guarantee that the indexes will break out any time soon. Why Im Not Buying Allegheny Technologies, Titanium Metals, or RTI ::
the most basic of technical analysis (selling stocks as they break major support I try to stay focused on very good sectors with long term strength, of
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The S&P 500 (see first chart below) remains stuck near the bottom of its trading range. If it goes much below 1440, 1428-1432 and 1420 come into play, while 1480-1500 remains a big hurdle to the upside.
If 13,000 goes on the Dow (second chart), 12,800 could be next. To the upside, 13,360 is a big resistance area.
The Nasdaq (third chart) has support here at 2600, with 2590 and 2540-2550 below that. Resistance is 2650-2660, 2680 and 2700. Market Timer Newsletter | Trading Stocks | Stock Market Cycles | Timer ::
Subscribers will gain insight on trading stocks through a technical tend to stay in the upper half of trading ranges, while others are stuck in a lower range.
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Options Strategy - Strangle | mysmp.com::
good strategy for playing a security that is stuck in a range. stock photos. Stocks. Technical Analysis. Candlesticks. Chart Patterns. Cycles. Scalp Trading
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In short, still a very range-bound market, but one that could get a lift later this month in anticipation of more rate cuts.
Paul Shread is a Chartered Market Technician (CMT) and member of the Market Technicians Association.
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