Excitement has turned to boredom, as the huge volatility from previous months’ trading has slowed down considerably. The SPX has been stuck between 800 – 850 for the last week, which is bad for the trader that doesn’t scalp. Fortunately, the ETFs have enough volatility for me still, and some of my scalping indicators, make this period, pump out consistent cash. I do make fewer trades, and take what the market gives me in this environment. I also expect the worse. I don’t expect breakouts to continue. When we hit resistance, I’d rather short, and go long at support. Trade the range until it definitely breaks. FOMC meets tomorrow. That may provide breakout fuel
Monthly charts are still shifted positive for the major indexes… not an uptrenmd, but stabalized with the higher high candles. I don’t have a clue if we’re going to break those lows, or rally from here. The bulls and bears are still at battle.
