For the past three weeks we have been experiencing a period of broad market consolidation – a time when trading ranges narrow, whipsawing many traders to the sole benefit of their broker. This ‘digestion’ period came after nine straight weeks of gains on the Nasdaq - a logical point at which to pause and view the landscape from newly-found heights. But as a result of Friday's bullish run into the close, the market-leading Nasdaq has broken above its symmetrical triangle pattern, and the S&P 500 has closed snuggly against the top line of its own triangle. This action forces us to consider a simple question: Has the consolidation ended? Has the next big market move revealed itself in a bear-squashing week-ending close?

The answer, I believe, will only start to unravel in Monday's session. We will either see a strong bullish follow-through, or a retreat back to the ranges in which we've been treading water for weeks.

Cue the charts --- First, let’s look at all three indices on a weekly time frame: (Naz, S&P, Dow)

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