S&P 500 Is Likely To Consolidate The Breakout

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S&P 500 breakout or fakeout? I was in favor of breakout and its retest Friday. Not even debt ceiling resolution stumble or Powell talking about not needing to raise rates too much given the commercial lending stress (tightening) or Yellen bringing up more consolidation ahead in the banking sector. (…) The key thing that changed, is that we‘re dealing with a breakout now – above both 4,188 and 4,209. Unconfirmed for now, so let‘s examine its odds to answer that „breakout or fakeout“ question. First, neither daily volume nor market breadth changes stand in the way of either ES or NDX. Seconds, b…

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