TechnoMeter

Last week, the S&P 500 broke out above the trend-line extending down off the record high, this week has thus far and probably will continue through the end of today, be nothing more than a quiet week of chopping sideways. The chop sideways following a strong push off the 2016 trend-line/200-day is viewed as healthy as long as we don't see a sudden drop back down below the recently captured downtrend line. The rally off the monthly low also took the market beyond the April high, another constructive positive.

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