Nasdaq - sideways channel

April can be a boring time on the market in terms of the trading calendar. As you can see we have not really done much since the end of March.

When Easter time comes, the smart money is normally out of the market and will not hop back in till the end of this week or early next week. So again the market seems to be in limbo.

The chart below shows the Nasdaq in a lazy channel. No one is really winning the battle as the market is directionless for now. When the smart money comes back that could be a different story.

The hourly chart below shows nothing more than a bump and grind sideways.

nasdaq sideways channel

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sp 500 index chart - latest sp 500 index chart

sp 500 index chart

The sp 500 index chart below is not moving much at all, infact we could say the market right now is producing a flat top, or in limbo (e.g. not moving much) and the bulls are trying to reach new highs. +

Remember tomorrow (FRIDAY 14th MARCH) is OPEX day and they can tend to run things up in opex weeks. However When I am trading OPEX I always expect the unexpected as over the years I have seen some rather bland action, or the opposite to that, very wild and crazy moves. Tomorrow we shall see which one we shall get. The sp 500 index chart is not really telling us too much yet! Can you feel the excitement :-P

The sp 500 index chart below shows us the market is trying to decide which way to go. The bulls and the bears are both fighting, like a tug of war, so far there is no clear winner. But we should have some more clarity in the next few days.

sp 500 index chart

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