The tech stock are still stuck in neutral making that trip back to 12800 yet once again. I would expect that many trades are looking at this giant triangle pattern as well. Until the pattern is broken we are stuck in chop.
Comment:
I have to believe this will break one way or the other soon as it is tightening. I'm hesitant to commit either way. There appears to be buyers but also a lot of sellers or one big seller unloading in the 13000 area.
Comment:
Broke the giant triangle pattern to the upside. Would not be surprised to see a re-test of the top of the triangle. If price successfully breaks out of the neutral look for a move up to the 786/886 fib zone.