Summary
Despite the large volatile titles, the price action has been tightened since mid-January. For the S&P 500 (SPX), the price is seated in the upper half of a range back in early November. Although it is certainly not the perfect manual or image, the index could be a layout of a complex and non -typical bullish cutter formation. To complete the model, a strong break above the fence of all time of 6,119 is necessary – preferably with an immediate follow -up action. The current trading range has a width of around 355 points, so a break could open the door for an initial measured movement towards the 6,300 zone and perhaps more. Since mid-January, the SPX price range has been limited to around 200 points and some of the short and intermediate moving mediums have started to tighten. The price at the top of a range with thin volatility is often a bullish sign that an index or an individual stock is preparing for a breakdown movement. The SPX is also in a favorable place depending on the price channels and volatility bands. On the daily graphic, the price is between the medium and higher Bollinger strips and is in t
