This 4-pack looks at a few popular stock indices since the first of this year on a daily basis.
Each Index peaked in January, creating the top of the trading range and each bottomed in February, creating the bottom of the trading range.
Over the past few months, each index is creating a series of lower highs.
The rally off support the past couple of weeks now has the S&P, Dow and NYSE indices testing lower high breakout tests at each (1). Each of these hit lower highs resistance yesterday and created small daily reversal patterns.
For these key indices to make a run back to the January highs, somewhere along the line they need to break out above the series of lower highs.
By the end of the week will these indices break out at each (1) or will it be the same and another lower highs takes place?