Short Term Upside Likely Capped

S&P 500 Stocks Above 50-Day Average (INDEX:S5FI)

INDEX:S5FI S&P 500 Stocks Above 50-Day Average

The daily view of stock's above their 50 DMA is in a converging range, and likely on it's way to creating a triangle pattern. Recent action suggests upside is limited, though a breakout confirmed with strength would signal higher highs in the indexes. Something to keep an eye on.

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