S&P500 Index: The index tracking the major US listed stocks is currently trading in a range bound by resistance of 2,120 and support at 2,040. Over the past few weeks the index is converging and forming a triangle. Reporting season is likely to provide future direction with better than expected results likely to push the index higher but disappointing results could see the index break lower below the support level.

S&P500 Index

RPC Inc (RES): the share price has formed a bottom reversal inverse head and shoulders with a confirmation of the pattern yesterday with a breakout out above the neckline.

RPC Inc (RES)

Happy Trading

Flavio