Saturday, May 31, 2014

Market Trend Model

The Market Trend Model continues to show positive trends despite some of the lowest trading volume days in the past two years.

The S&P 500 continues to grind higher as this index broke out of the ascending base I noted last week.  The Nasdaq 100 broke out of a similar ascending base a week earlier.

The Nasdaq and Russell 2000 continue to wedge higher on the right side of head & shoulders chart patterns.  Both of these indices printed distribution days on Friday as they challenged areas of resistance.

Once again the market appears to be at a critical juncture.  Price action next week may dictate the market direction for the summer months.

View all of the Market Trend Model price charts at http://bit.ly/M_Trend_Model.