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SPX has been trading in a range and moving back and forth through the daily middle band, with strong established support in the 4100 area, but unable to convert it to convincing support or resistance.
SPX daily BBs chart:
Good morning, everyone, and welcome to a new week. Let’s just stick with the basics in this post and take a fresh look at the /ES and the /NQ charts. First off, here is the /ES, which as I am typing this is down about six points.
Below is the All World Index divided by the Producer Price Index going back for thirty years. I see a top. How about you?
