Multiple Swings in a Resting Market
02/04/2015 8:00 am EST
Christopher Terry, of iMarketsLive.com, shares a video in which he analyzes the S&P Futures larger-term daily chart that shows it has now completed multiple data points required to create a triangle pattern and Chris outlines the key area he's watching for now.
The market has been in an overall uptrend, basically, for the past couple of years, but it has also been in an overall uptrend in recent times, so it is currently.resting.
But since the market is at a key spot—both at the upper trend line of this triangle that has formed and just below the prior swing high—traders should now be watching for either a breakout of this triangle or a failure once again that can bring prices back down to the center of this large trading range that has formed.
By Christopher Terry, Contributor, iMarketsLive.com