The market is always surprising, and sometimes not in the way we would hope or anticipate. This week the market rose to about the level I expected it to when I wrote last weekend, but it didn't come down in the latter half of the week as I expected. The market often doesn't move as cleanly as one would hope. Looking at a not very commonly used but interesting technical indicator, the bollinger band width, we see that there is probably a bit more upswing to go. It seems, looking at this, that the market will continue to putter along [probably puttering up a little bit] for a little while, probably a week or two before the downturn starts. However, it is important to note that the market is not moving sustainably. We will likely see the market move little bits and pieces for a little while [I won't pretend to know how long] before the down segment [of an up trend] starts. In conclusion, it appears that although the market may continue to rise slightly over the coming week, it will not do so for very much longer. We are nearing a top.
Disclosure: I am long SPXU
In conclusion, it appears that although the market may continue to rise slightly over the coming week, it will not do so for very much longer. We are nearing a top.