The Technical Indicator: Charting a bullish Q3 start, S&P 500 challenges major resistance

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The Technical Indicator starts its sixteenth year this month.

Against this backdrop, the U.S. benchmarks have weathered an unusually jagged 2018 first-half, though the market technicals have firmed with a strong third-quarter start. The charts below add color:

Before detailing the U.S. markets’ wider view, the S&P 500’s SPX, +0.30% hourly chart highlights the past two weeks.

As illustrated, the S&P has knifed atop the May peak (2,742) and rallied to next resistance.

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