The indexes continue to meander sideways -diving then……someone or something or magic keeps bringing us back to the inevitable 1400 level.. whatever the case may be you should take a look at the charts below to help craft your view…
My view is still sold up to a test of 1420 ES and 1425ish SPX before we reach a juncture..
either clean break into highs not seen since before the 2008 crisis or we fall back towards the 1300 level as the 1390-80 fails into the end of August. Time will tell, until then trade the charts no the noise.
|SPX 15 min|
|NDX 5 minutes (Notice tight correlation up near 2730)|