By Lawrence G. McMillan
The stock market, as measured by the Standard & Poor’s 500 Index failed to hold on to the upside breakout of last week and is now back in the trading range that had previously contained the market for a month or so.
The range is a bit wide now, with resistance at the June highs of 1,360 and major support at the June lows of 1,270. There is also support in the 1,305-1,310 area. All three are marked on the chart below...
To read the full article, subscribe to The Market Watch Options Trader.
© 2023 The Option Strategist | McMillan Analysis Corporation