Stocks: A Tricky Road Higher

Major indexes face a fair amount of overhead resistance, which could cause continued volatile trading

The major indexes have all completed inverse, head-and-shoulders (H&S) patterns, in our view, so we believe that the long awaited market low is finally in. However, the indexes still have to deal with a fair amount of overhead resistance, which could cause continued volatile trading, but we think prices will maintain their upward bias off the lows set in mid-August.

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