Over the past few weeks, the US major indexes have consolidated into a sideways price channel. This is most obvious on the NASDAQ and SPY charts as we’ve seen moderately deep pullbacks through the months of April/May 2021. My research suggests this sideways price Flagging might be concerning for active traders/investors.
When the market flags into a sideways price pattern and near an Apex level, price tends to act in a very aggressive manner while attempting to establish a new trend. The longer price continues to trade within that sideways/flagging price range, the more aggressive and violent the new trend may be when it finally breaks free of the sideways price channel.
AFTER MANY WEEKS OF SIDEWAYS PRICE TRENDING – WHAT’S NEXT?
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US MAJOR INDEXES CONSOLIDATE INTO SIDEWAYS/FLAGGING PATTERN – WATCH FOR AGGRESSIVE TRENDING SOON
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