The Plateau

The Plateau


If we have a look at the leader of the market, we seemed to have just plateaued out and going no where.

We need to wait a bit while we wait for the market to chose a direction. So far the bulls have had a fantastic run, but they do not seem to be out of breath just yet.

Yesterday we posted this chart for our VIP MEMBERS only with summation charts. I have posted this here, and traders are on the sideline waiting for the market to move north or south, its annoying when the market hardly moves, and in a tight range which is what is happening at the moment.

dow jones transports

WHAT IF YOU KNEW WHICH WAY THE MARKET WAS ABOUT TO MOVE BEFORE IT HAPPENED?  CLICK HERE To Join Our VIP ELITE GROUP  -- FREE 10 Day Trial Offer Today! 

Range - spx range

Range - spx range

Check out the hourly chart on the SPX, for the last few days we have been trading in nothing more than a range. UP and DOWN like a yo-yo!!!! :D

Once this breaks either way, its off to the races I feel. Tis just a matter of time.

WHAT IF YOU KNEW WHICH WAY THE MARKET WAS ABOUT TO MOVE BEFORE IT HAPPENED?  CLICK HERE To Join Our VIP ELITE GROUP  -- FREE 10 Day Trial Offer Today! 

Range Trading

We posted the warning signs of a bounce that could come to the market HERE YESTERDAY  Today on Thursday on globex, we could be seeing further evidence, that that is what could be happening.

When we take a look at the leader, or the DOW JONES Transports, we can clearly see that over the last few months, we have been in nothing more than a slow and steady grind within a rectangle range. You could say that we have been stuck in a box, and currently at the 5000 level.

As the market sold off into the close yesterday, the tick was showing resilience and is still down in oversold territory, so again I would not be surprised to see some buying into the end of the week come back. 

We are also following our rules about looking for a low the Thursday or Friday the week before the OCT expiration. That would be in the next day or so. :-)

Happy trading :-)

WHAT IF YOU KNEW WHICH WAY THE MARKET WAS ABOUT TO MOVE BEFORE IT HAPPENED?  CLICK HERE To Join Our VIP ELITE GROUP  -- 30 Day Trial Offer Today!