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Tim Says Market Is Rangebound AND Strong – Charts Show

This is a syndicated repost published with the permission of Slope of Hope. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

In spite of what seems like a pretty ugly trade war, the market is strong and tightly range-bound. I wanted to update some major cash indexes to illustrate some important zones of support (magenta) and resistance (green). The bulls get the upper hand (or hoof, I guess) if the green breaks, whereas the bears get the upper paw if the magenta fails. As always, click on any chart for a much larger version.

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