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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