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The S&P 500 bounced off the resistance of a sideways trading range from June 15, on 5% above-average volume and on now mixed momentum. Note also that ROC broke 2 supports (uptrend & MA10)  

Although the index remains inside an uptrend from 2010, it is about to get squeezed between a resistance and 2 supports (including the EMA10), which suggests that the upcycle from June could officially end soon.