Fallon Financial Commentary: Trading Ranges Established Get the latest market commentary and stock trading ideas from Declan Fallon

Looks like yesterday's rally threw markets into more prolonged sideways trading ranges, rather than take them another leg down. The boundaries for a breakout remain unchanged from before; just a second band of resistance (a new neckline) was added at November highs to create a double/triple(?) bottom with yesterday's low and the late (and early) October low(s).

It's still anyone's game with the Summation Indices favouring bulls and the Bullish Percents aligning with bears.

You can see in the Dow chart how neckline resistance is the same whether you looked at this as a head-and-shoulder pattern or a triple bottom. Yesterday's momentum should see it challenge 9,615