Still Waiting For Resolution

Continue to wait for the SP500 to resolve from its multi-months trading range. Looking at last week’s result, it seems like the index didn’t change much since it ended the week near where it started. But if one takes a deeper look at individual stocks, one can see there has been some damage done that could be the start of the resolution toward lower low that everyone is waiting for.

Here are the updated charts for the SP500, SPY and the QQQ:

SP500 (weekly):



SP500 (30 minutes intraday):



SPY (weekly):



QQQ (weekly):