Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.   What we have here today folks is a market that is just content being where its being. Another day of nothing exciting on either side of the market with patterns still being built out.   It seems the market right here might just be content to leave things well enough alone this week.  Again, its all about the short term pink bullish channel as shown in the charts below. Until that breaks to the upside with conviction?  Expect more of the same.  Its also starting to seem that the only way the market is going to get up and go is with some sort of news driven propaganda event.  Of course we know what those look like right?  All in the form of a gap and go that doesn’t fail like the last three or four opening pops have.                   Until the market either gets slammed to the green trendline in the daily charts or we break to the upside of the Pink POH that is building itself out in the daily charts there really isn’t anything to do here with regards to indexes or index ETF’s long or short.      Below are the Micro short term charts that hone in on the Pink POH in the daily charts.       Sure enough here we are in the process of tracing out an E wave to the downside.     So what do we do here today?Nothing really if you ask me. Its just one of those days.       What To Watch For, What to Watch Out For     Lets spend a little time talking about this.  With every trade you do, what to watch for and what to watch out for are always present.  Lets take a look at the Russell 2000 index for a moment.     Much like the S&P 500 and NASDAQ Comp. This index too like pretty much following the  same script. Here too, if we are going higher the what to watch for is …