Markets Were In Conflict
According to stockcharts.com, trading ranges speak to a fairly even battle between stock market bulls and stock market bears:
Price action depicts a market in conflict. Only until the price breaks above resistance or below support will it be clear which group has won the battle.
As shown via the 1981-2013 S&P 500 chart below, neither the bulls nor the bears made much sustainable progress between 1996 and 2013, which resulted in a long-term trading range.
A Picture Is W
