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Multiple Potential Catalyst are Behind Us, Yet the SPY Remains Range-Bound


Now that investors and traders have navigated the BOJ and Fed Decisions, and the first Presidential Debate, let's take a look at my medium-term S&P 500 Point&Figure chart work.

The most salient feature is the cluster of important support at 213.00-212.50, which must contain any forthcoming weakness-- and a print of 212.00-- to preserve the integrity of dominant uptrend.

That said however, there is equally powerful resistance from 217.50 to 219.50, which has put a lid on recent SPY strength.

A print of 218.00 is needed to trigger renewed upside traction that will point to a retest of the high at 219.50.

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