The S&P 500 stock index passed one test, but the post-setup action will determine if price holds or gives way.
Stock sellers could be making their move, but if an intraday rally manifests within this time frame, it might take hold.
Seminal financial events have made and lost fortunes throughout history. Current conditions suggest such an event may be on the horizon.
Major indexes closed mixed Thursday on higher volume after the S&P 500, Dow 30 and Value Line index rallied to their best levels since November lows.
Major indexes saw marginal gains Tuesday when the S&P 500, Dow 30 and Value Line index rallied to new short-term highs.
The stock market continues to add to its 2013 gains, but indicator readings remain technically suspicious.
Although trading volume rose on Thursday along with the market, some important indexes have failed to break through critical resistance.
An overnight sell-off could set the tone for another net gain in the day session -- unless these key levels give way.
The stock market keeps rising, but gains continue to be small and unimpressive.
It appeared to be a quietly positive week for the stock market, with the fiscal cliff overcome, but not-so-obvious technicals may tell a different tale.