The upper boundary of the formation is at now at 13, 935.
FORBES: Is Dow's Divergence A Problem?
The upper boundary of the flag formation, line d, is at 2664 with the 61.8% Fibonacci retracement resistance at 2678.
FORBES: Don't Buy Stocks at These Levels
The PowerShares QQQ Trust ( QQQ), which tracks the Nasdaq 100 Index, exceeded the upper resistance from the flag formation on Tuesday (line a), but then closed lower, which is a short-term negative.
In the upper left of the chart is a typical doji formation.
FORBES: A Candle Trigger for Market Tops
The price action in 2012 and early 2013 could be a continuation or flag formation (lines d and h) with the upper boundary currently at 1.948%.
FORBES: Keep Your Eye on Treasury Rates
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