FLAT LIKE A PANCAKE

If you just slept in the last 6 days you haven’t lost anything. These days are about the fight between optimism and pessimism in other words bulls versus bears. Recently I don’t have a faintest idea which and when will win.

Take a look at this S&P500 H1 chart.

What a ranging! Since last Tuesday when the market made a nice rally the index stays in a pretty narrow channel between 1,868 and 1,887. The market and investors are just hesitating which way to go. Some days need to come for the breakout and that breakout must be stormy and within minutes we are going to see clear massage about the direction. This up and down pattern is only good for traps. I have some friends who has lost significant money in this ranging mood in the last couple of days. They tried to catch the long and than the short side and vice versa. These days are black and red casino so until I have a clear indication about the breakout I am just waiting.

Yesterday data:

• Dow 16,419 -34 -0.20% 
• Nasdaq 4,334 -2- 0.05% 
• S&P 500 1,877 -1 -0.06%

The BFM Assets Team.