The S & P has been trading in a range between 2790 and 2960 since around the 22nd of April. We are now at the highs of the range and could see a breakout in the coming days, or, we trade back within the range once again.
@BH42 - would you be kind enough to have a quick look at FTSE100 and see if would seem to do the same?
BH42
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@virtualtechie11, Of course, I have a FTSE channel in place already, below. We have broken through mid channel resistance so it would be disappointing now if we cant reach the top of the range before a drop. That said, we have seen a huge pump across all indices this week so we are surely due a breather at some point soon.
virtualtechie11
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@BH42, sorry for me being a noob, but
1. what do you mean mid channel? i beleive it has broken the channel's top line (i.e. resistance) that was sitting at approx 6200 before
2. what do mean top of the range? in numbers?
3. i agree, it seems like we may be due a breather sometime soon, how big or small gotta be seen, but then as ftse has broken the Resistance, so might not happen before it pushed good few % points up, s&p once it broke resistance , added about 5-6% and ftse was only 1.5% yesterday after breaking resisrance and this mroning seem to have given up 1/2 of that. so i think if it can break resistance and hold, we might see 5-6% gain beforr we see a correction\drop..
virtualtechie11
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Most of the indices are the same apart from Nasdaq