A break above 3780 would be a breakout in my book and I would go long again (I closed my previous long after it broke the yellow the trendline).
The fact that we did not move violently down after failing at the orange AVWAP (September Consumer Price Index release) suggests that now is not a good time to look for shorts. As long as buyers show up if we dip below the cyan AVWAP (October Consumer Price Index release), this market goes higher in the short term.
Some key earnings next week (e.g. GOOG, MSFT, AAPL, AMZN) may act as a catalyst for the breakout if we continue to range until then.
The fact that we did not move violently down after failing at the orange AVWAP (September Consumer Price Index release) suggests that now is not a good time to look for shorts. As long as buyers show up if we dip below the cyan AVWAP (October Consumer Price Index release), this market goes higher in the short term.
Some key earnings next week (e.g. GOOG, MSFT, AAPL, AMZN) may act as a catalyst for the breakout if we continue to range until then.
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Here is the catalyst: www.wsj.com/articles...re-hikes-11666356757
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Got the breakout, 3910$ target
But mindful of big earnings tonight and tomorrow
But mindful of big earnings tonight and tomorrow
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Got stopped before we could get to 3910 but still made some money