We’re seeing mostly random action in the major indices this morning…
Just last week, we saw the Dow rally about 750 points on news of a resolution to the debt ceiling… And the question I have is whether that price action will remain, or if the market is due to cool off and eat some of those gains.
Looking at technicals, the Dow appears to have some more upside… But we’ve been in a super tight channel now for quite some time.
So even if it does go higher, which I think it will, the upside is limited before hitting resistance unless we break out.
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