A Slow Motion Run To Nowhere

After watching the markets yesterday, I get the feeling that this week may be a sideways slow motion move that goes nowhere fast...until after the Fed Mtg.  Lets review some charts.


SPX - You can see the same sideways move that has been playing out for weeks.

SPX 9-12 Read More

Tricky Track

In an earlier report I asked, "Are we still on track?" It would take time to know for sure, but things are still playing out well in some areas, yet a little trickier in others. Lets look at charts.

SEPT 2 -  I pointed out this topping action and said to expect volatility, possibly even sideways for a long period of time.

20015 Topping SPX

I want to point out what I am looking for next...

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On The Right Track?

I wanted to post a picture of something where glue was just melting and everything was becoming unglued, because Wednesday morning I saw quite a bit of Green on my screen and by the close things become a little unglued.  So it raises the question,  "Are things still on the right track?"  Lets look at the charts.

DJIA - Wednesdays rally hit the 20sma and back tested that down trend line, and then promptly gave it up.  I actually think this type of action could lead to a nice post Fed rally next week. For now it is difficult to trade.

DJIA 9-9 Read More