The stock market right now is poised for a breakout - or a breakup
The S&P 500 index remains range-bound, with support at 6,720 and resistance at 6,900. Market indicators are mixed, with some bullish signals from put-call ratios and volatility derivatives, while market breadth shows bearish signals. Seasonal factors are bullish, but recent market actions don't reflect this. Recommendations include potential bullish positions if SPX breaks above 6,920 and bearish positions if it falls below 6,720. A straddle buy in Bank of Montreal is also suggested.
Dow Jones·