The longer the market trades in a range, the stronger the breakout is when it occurs. The S&P 500 has setup a very similar topping pattern this month as it did in August before a rapid and steep sell off. John Nyaradi of www.wall-street-sector-selector.com, created a nice chart showing this in an article he wrote on SeekingAlpha.com: As you can see the topping patterns are very similar including the Full Stochastics being overbought. However, this time, the RSI has been even more … [Read more...]