After consolidating since the beginning of March, it appeared that SPYs broke out on Wednesday. It was a false break-out. Wednesday’s daily candle was weak, with a small body and high shadow. Rather than continuing the move higher, Thursday printed a similar candle. The markets gapped lower on Friday, sending the daily chart back into its previous consolidation pattern. Several weak economic numbers contributed to the markets sell-off, including industrial production, further weakness in retail sales and increasing negativity in the