Markets: Trapped, Stressed, and Poised for the Next Move

Trapped

SPX continues trading inside the range that has been in place since October. We are below the 50 day, but still just above the 100 day. The long term trend line comes in some 50 points lower (make or break). Resistance remains the short term negative trend line. Looks like we need to chop around for a bit more before the break out occurs.