Stocks are 'coiling for a break higher'

The S&P 500 has formed a bullish triangle pattern that's setting it up for a break higher, according to David Sneddon, Credit Suisse's global head of technical analysis. 
The index's recent sideways trading is a result of the overbought conditions that prevailed earlier this year. 
Market breadth and volume gauges are also improving, Sneddon said. 
Study a chart of the S&P 500, and it will show that stocks are on the brink of a big move higher. That's according to David Sn