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Tuesdays markets sparked my interest in a few ways. Let's get to the charts...
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SPX - We've certainly seen this before. Frustrating the longs and the shorts, the sideways move continues.
Read MoreAs mentioned in a few prior reports, we are riding through a consolidation zone in some sectors, and now Oil and Energy are experiencing a slight pull back. In Bull Markets, these are healthy events and over time we eventually see higher lows and higher highs. Understandably, these periods where gains are given and then taken back get frustrating for some, especially if they last for long periods of time. With that, I wanted to re-post this recent report from Aug 12th to help us to maintain an unemotional perspective. Please read the article with the link below again, or just skim through it if you have time.
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CHOPPY WATERS
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SPX - The set up is bullish, but I am expecting a cycle dip into a dcl, so I am viewing it this way for now. There is a possibility that these markets just remain supported and head upward into a runaway type move. The dips are very muted.
Read MoreLooking forward...
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SPX - The squeeze on the Bollinger Bands usually leads to a strong directional move.
You can see that we are consolidating in a bit of a triangle / wedge and heading into the apex. A break out 1 way or the other should occur soon. A break out higher could lead to a runaway move ...
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