Several recent turn or acceleration risk windows have been minor consolidations similar to last Friday rather than the expected turn or acceleration of the current trend. I'm not sure what this is indicating, maybe a change in market tenor. There is definitely a hesitancy in the market demeanor.
This week there are two risk cycles on both Monday and Tuesday and then one each on the remaining days of the week. That would seem to indicate a greater risk for a turn or acceleration of the trend occurring by the middle of the week. This is consistent with my belief that there will be marked dissention in the FED notes to be released this Wednesday which may be market moving.
The system is currently long, but if the early going is any indication of the close, the system will be stopped out today with a whipsaw as I feared when it was stopped in last week.
Regards,
Douglas
