NEW YORK (TheStreet) -- Good morning traders!
The market can't decide whether it wants to go up or down. Every time we get to potential breakout levels, be it up or down, the breakout never happens. The S&P 500 (SPY) and the Dow (DIA) were at breakout levels last week, but the resistance was too strong and the indices traded lower. In a choppy market like this, we need to watch our positions closely, and be ready for anything.
According to the Stock Traders Almanac, May 5, 6 and 7 are historically bearish days -- more than 60% of the time -- since January 1992. So keep that in mind.
- Friday's range: 2.68 - 2.85
- 52-week range: 2.33 - 2.85
- Friday's volume: 4,364,324
- 3-month average volume: 1,831,020
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