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Stock Market's Choppiness Yields Less-Common Bases.(YOUR WEEKLY REVIEW)
Byline: JUAN CARLOS ARANCIBIA
The market's rally since late April is showing investors a different face.
Among the dozens of breakouts in recent weeks, plenty have emerged from less-common chart patterns, namely cups without handles. You've also seen many base-on-base patterns.
Why are these birds of a different feather suddenly emerging?
A key reason is the stock market's action.
The main indexes had been in a funk since the start of the year, and many leading stocks started correcting right along.
Four months later, the indexes followed through and the new rally got under way. The market's correction wasn't severe: The Nasdaq pulled back less than 14%. The rally since then has been choppy.
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