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Here is a chart of SPY pausing before breaking out over resistance.
Normally prices retest resistance to check to see if it in now
considered support.
If price jabs resistance and fails to hold new support, price usually
collapses through the bottom of the recent range.
The sideway action is almost two weeks worth of traders locked into
that range.
If the lower range fails, look for a test of familiar moving averages.
KBANTZ
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http://bigcharts.marketwatch.com/charts/big.chart?symb=spy&compidx=aaaaa%3A0&ma=0&maval=9&uf=32&lf=512&lf2=8&lf3=268435456&type=32&size=4&state=11&sid=9864&style=370&time=18&freq=9&comp=NO_SYMBOL_CHOSEN&nosettings=1&rand=5002&mocktick=1
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