The high for the S&P 500 has stopped at an interesting point, the lower line of the 2003 to 2007 channel that it fell out of 10 years ago.
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In the 15 year weekly bars chart of the S&P 500, it has finally tagged that lower line of that channel. There is a good chance it will consolidate right under that line if there are no sudden surges to pierce it. Also, the outcome of the pending tax bill should have a substantial affect on the S&P considering it is at this major decision point.
Trade well my friends
Alan
