Since the begining of July the market has been in a rising wedge, which can spell trouble for the bulls as it has been stalling around 1130 at the June highs.Technically everything looks good as the index has been closing above both the 50 & 200 day moving averages.
Tomorrow's FOMC meeting results will definitely tell us which way the market should follow.
1150 is the next resistance level and on the way down support is at 1107 first, then around 1090
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