In my 8/11 SPX post it appeared that the hourly Stochastic could soon reach the oversold zone signaling a buying opportunity.
Relentless buying hasn't allowed the Stochastic to get oversold, the type of activity that's typical of a mid phase bull market.
Since 8/10 the SPX has been forming a market profile - values zone which could be the base for further rally.
Also since 8/10 the daily SPX range has been very narrow, sometimes only about 13 or 14 points. This slow trade is probably a sign
that big money player are on vacation. This slow trade could continue until after labor day.
Mark
Relentless buying hasn't allowed the Stochastic to get oversold, the type of activity that's typical of a mid phase bull market.
Since 8/10 the SPX has been forming a market profile - values zone which could be the base for further rally.
Also since 8/10 the daily SPX range has been very narrow, sometimes only about 13 or 14 points. This slow trade is probably a sign
that big money player are on vacation. This slow trade could continue until after labor day.
Mark