The summer trend this year is to make a low by mid month then rally into the 20-21 of the month, sell off. Until the spx breaks out of resistance, or breaks down through support, the spx will continue to stay choppy this summer.
For the last 4 weeks the es has been making an alternating up a week and down a week . With the 2015 summer chop in full swing I don't see why this pattern will not continue until it stops.
If the spx follows the summer pattern would look to long @ august lows into the end of next week. Probably am 100% wrong so will use a stop in case I am batshit crazy which I most likely am. If at the end of next week and the spx is back up to resistance would look to short and trade the range until it stops.
For the last 4 weeks the es has been making an alternating up a week and down a week . With the 2015 summer chop in full swing I don't see why this pattern will not continue until it stops.
If the spx follows the summer pattern would look to long @ august lows into the end of next week. Probably am 100% wrong so will use a stop in case I am batshit crazy which I most likely am. If at the end of next week and the spx is back up to resistance would look to short and trade the range until it stops.