The four primary US trading indices remain in strong Vertical Development UP. Retracements are short lived and shallow. The Naz 100 / ENQ is “due” to break out of a multi-day Balance Area. There is no reason to believe it won’t be up, so that could be the next catalyst for another wide range up day. A close below Tuesday’s lows by all four indices would suggest the Bull leg may at least pause.
It continues to be fascinating to note the increasing indignation being expressed by the Magicians (market predictors) over a market that refuses to fall in spite of all the incantations thrown its way. At some point the market will at least become more rotational, with more day-to-day volatility than we have seen this year, but there will be signals from the market itself that event is underway without worrying about having to predict it to the minute.
