The market has been as indecisive and frustrating as any time we can remember. Strength turns to weakness and vice versa on a day-to-day basis making it difficult to say the least to be on the right direction of a move. Actually, it is virtually impossible other than intra-day, because there is no direction as of late. Friday was a strong close moving well into the prior day's range suggesting continued upside, but we have seen this before only to see that strength evaporate. Maybe this time will be different as it formed after a retest of the prior low made in February forming a daily bottoming tail.The weekly VIX and SPY charts are much less convincing at this time, a close on either side of this week's range may change that. Which ever it is, it would only suggest a possible move to the extremes of the weekly trading range. That would not be bad from the point of view of the short-term trader, but long term we need to see much more to suggest a break from this range. The VIX is not giving us significant clues either as it has not broken the back of that WRB to the upside that formed several weeks ago, nor has it confirmed that move higher either. In other words, the market is not giving us much to go on other then its day-to-day gyrations. This is not a great time to be in the market, but one has to stick it out through these time to be there for the larger movements when they present themselves. Focusing your attention elsewhere is much easier and just what many are likely to do at these times. Be on guard for the potential of a shakeout move prior to any real direction and hang in there.
Se não receio o erro é porque estou sempre pronto a corrigi-lo
There's no bull side and no bear side. JUST THE RIGHT SIDE!
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