The market ended Friday with not much action in the overall averages, but in certain sectors like pharmaceuticals, oil, gold, and bonds there certainly was intense, one-directional action.
Mike Paulenoff writes that the Dow's decline yesterday and today did not break the prior pullback low at 108.85, which from a strict technical perspective preserves support.
After at least two successful tests of 1247.25, the pattern developing on the hourly S&P 500 chart continues to resemble a three-week inverted head-and-shoulders base.
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