Market uptrend bends, without cracking
October 01, 2013 at 12:54 PM EDT
Though the market technicals are bending, against the headwind of U.S. congressional inaction, the prevailing uptrend hasn’t cracked. To this point, the S&P 500 has maintained support at its 50-day moving average, and its path of least resistance points higher barring a violation of this area.
