The markets continued to stay in a high range, but aren't showing much conviction to do more. Earnings results are still coming out, some good and some bad, but still not enough to get the markets moving. Volatility remains low, so keeping a Maverick Outlook of +1 continues to make sense here.
Technically, the markets are in high basing/ascending triangle patterns. These patterns do take time to build energy before they break out. If we continue to see this type of market action, then we could see a push above resistance later this week. This move can come intra-day as well, but it must close above resistance levels to confirm.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
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