Is The Market Consolidating Or Topping? Readings From The High Altitude Charts

Lance Roberts at Streettalklive.com

This past week I was having a discussion with my good friend Doug Short over the struggle of the S&P 500 to gain ground over the past few months. Good economic news and "stronger than expected" earnings reports have buoyed the market against the drain of liquidity from the Federal Reserve. Today, the market ripped higher at the open as hopes of a "QE" program from the ECB rippled through the markets. Despite commentary from the mainstream media that the markets are doing great, the updated chart below shows the markets continuing its tug-o-war between support and resistance.
Published by Street Talk Live.

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