Don't Ignore This Chart!

$SPX is stuck in the middle

Talk about the lost decade. With the May decline, the S&P 500 is trading in the middle of its 10 year range. Note that this is a semi-log scale that reflects percentage change. We are looking at the mother of all consolidations.

100527spx Click this image for details
Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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