By John Pisanchik

The market marked time in today’s session and did not break through and hold above the 955 Level in the S&P Cash Index.  This is an important level because the market is at a double top now and any market hesitation could spark a reaction lower. Therefore it is important for the market to move higher fast. If it hangs here too long then a trading range will have been defined. The trend following indicators are contradicting themselves so there is no clear trend upwards at this point. Happy Trading.

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