• CREDIT SUISSE: Stocks are 'coiling for a break higher'

    3 monthes ago - By Business Insider

    The S&P 500 has formed a bullish triangle pattern that's setting it up for a break higher, according to David Sneddon, Credit Suisse's global head of technical analysis.
    The index's recent sideways trading is a result of the overbought conditions that prevailed earlier this year.
    Market breadth and volume gauges are also improving, Sneddon said.
    Study a chart of the S&P 500 , and it will show that stocks are on the brink of a big move higher. That's according to David Sneddon, Credit Suisse's global head of technical analysis .
    This may not seem apparent now that stocks are going nowhere...
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