There seems to be an annoying range right now on the market. This is what is called a megaphone pattern in terms of technical analysis.
Megaphones can last a few days, or a few weeks, and normally gather momentum for a break out or break down below their extremities.
We are at 2741 on the nadaq which is the leader of the market. And need to watch things carefully to see where the leader wants to take us next.
As you can see since new years day, the market has been strong and now halted in this annoying range.
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| annoying range |
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