peterchung16

SP 500 is in a Trading Range

FX:SPX500   S&P 500 Index
39 0 2
SP             500 is in a trading range. The bull is successful by creating a double bottom . Thus, it established a base for this rally. The sell off is completed in Oct 1st. Since then, the stock market rallies till now. Although, it is weak bull. It is still a bull rally.

Whenever, there is a bull case. There is a bear case. The bear currently argues that it is the double top . But so far, the sell off from today is not even touched the 21 moving average. The bull will try to use this sell off to buy as a buy, because the previous bear wedges (failed reversal) fails to reverse. Thus, the best bear and bull are trading in a trading range for sometime.
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