My outlook for the overall market is not too bright over the next few weeks. We will have tradable bounces, but until something changes, the market will stay in a down trend correction. Not going to get into predicting what when type of thing as there are enough guesses around now to make everybody happy. This is what I see at this point in time, range bound between 1455 on the up side and 1351 on the down side. The most likely range is 1428-1376 this week.
Unless a huge amount of buying takes place soon, this puppy is not going to turn the downward tren back up anytime soon.
The charts below all have notes on them and you can draw your own opinion on what will happen based on direction of the various indicators.
Comments are always welcome,
mss
