Dan talks about the reverse head and shoulders pattern in the S&P 500 index. On Monday, the market broke above the right shoulder which signals further upside. Recent M&A activities of IBM and other Tech names have helped this sector break to the upside as well. Dan remains cautiously optimistic. The technicals certainly look good, but Dan warns about a shift in expectations. He believes the market has priced in a Republican victory this fall. Any deviation to that could jeopardize the rally.
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