The markets finished sideways for the most part. Some of the major indexes managed very small gains with a slight end of day rally. The TICK corroborated the choppy action. The TRIN and VIX dropped significantly this afternoon, which is a very bullish sign. The bullish reading in the TRIN and VIX probably came from increased comfort that the markets would hold these levels (at least for the day). On the daily chart we have an inside trading day which also marks the beginning of a high base formation. High Base formations occur when stocks (or anything you are trading) run up in price and then trade flat for a period of time to create, quite literally, a high base on the charts. High Base formations are statistically bullish and tend to break out to the upside.
One thing I forgot to mention in my video is that markets held up today despite the dollar (NYSEARCA:UUP) showing significant strength. Take note of that.
I might not get my analysis up at the usual times tomorrow because I will be traveling. Thanks for being a part ofSwing-High.com! Always trade with a stop loss and manage your risk appropriately.