If This Happens, Stocks Could Take a Serious Leg Higher

by Chris Ciovacco
Financial Sense

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.

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