by Chris Ciovacco
After a Failed Breakdown, Stocks Broke Out
In what is a microcosm of the last two years, the S&P 500 broke below its recent trading range roughly two weeks ago. The bearish breakdown quickly turned into a failed breakdown as stocks reversed and shot back up in a vertical manner.
[…] Big Moves Have Come in Both Directions
As a reminder of how quickly things can change in the present day markets, it may seem like a distant memory, but the S&P 500 was in negative territory for 2016 just a short time ago.