Stock Market Consolidates on Wednesday
The stock market indices had an interesting consolidation day today, but closed firmly to finish in the green.
The day started out with a move up, they pulled back, and backed and filled. By midday they had a double top, morning peak, pulled back early afternoon, and then tried to break out again. Anomaly so on the Nasdaq 100, but couldn’t do it. It was basically a consolidation day, but by the end of the day they moved up into the close to close positive, and right at resistance on the Nasdaq 100 at 4292 and the S&P 500 slightly below that at 1988-9.