We felt the markets were heading into a period of indecision as indicated in our chart analysis last week and that is exactly what happened. The major indexes essentially ended where they started. Watch the critical support and resistance levels as outlined in the chart analysis this week. Both the SPX and INDU are forming a symmetrical triangle as the market is trading in an increasingly narrower range. The NDX has been in a trading range the entire month of July. Look for breakout levels on the upside at 1875 and breakdown levels at 1780 on the NDX.

Robin

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