Perhaps, but it is not what I think one needs to watch. To me, and look at a simple daily to see it, the more important print is SPX 962.10 Sometimes, with all the fancy indicators, sentiment datapoints, and liquidity uploads, one forgets what defines an up-trend: higher highs, and higher lows.
In general, beyond TA, I think one has to consider here that everyone is looking at the same thing. We have the longest sideways move in years. Nobody seems to notice exactly what everyone is talking about, and all the TA-heads are talking about ths congestion of course, that we have been in a tight range for the longest time since the bear began.
Imho, the market will surprise. It will not just jello around for a while longer and then go up hard as many are seeing -- it will either go lower than people think, or it will take off without them. Place your bets.
Cheers |
