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It certainly looks like we are trying to build up enough pressure to break out of an ascending triangle.
The S&P 500 has been a bit choppy during the month of May, but as we head into June, it looks as if we are going to try to take off to the upside.
The DAX has pulled back just a bit during the course of the trading session on Thursday but found buyers underneath to pick up pieces of momentum.
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The S&P 500 has initially pulled back during the trading session on Thursday but found enough interest in the market to turn things around and send it back above the 4200 level.
The FTSE 100 has gone back and forth during the course of the trading session on Thursday as we are sitting just above the 7000 handle.
The NASDAQ 100 has pulled back just a bit during the course of the trading session on Thursday as we continue to sit still near the 13,700 level.
We did bounce just a bit from the lows of the day, so it is likely that we will continue to go much higher.
With this lack of momentum, the old adage “sell in May and go away” comes to mind.
The NASDAQ 100 rallied ever so slightly during the trading session on Wednesday, as we have essentially run out of momentum.
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The DAX Index initially rallied during the trading session on Tuesday as the German Ifo numbers came out at higher-than-anticipated levels.
The NASDAQ 100 initially rallied during the trading session on Tuesday but gave back the gains in order to show signs of exhaustion.
The market looks as if it is trying to build up the momentum to finally break out for a bigger move.
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Sign up to get the latest market updates and free signals directly to your inbox.The FTSE 100 rallied just a bit during the trading session on Monday to show signs of strength again, as we continue the overall uptrend.
The NASDAQ 100 broke out to the upside to kick off the week, as we have cleared the top of the 50 EMA region, which has been important more than once.
The S&P 500 rallied quite significantly during the trading session on Friday to reach towards the 4200 level.