- Ryan Mallory
I guess it has come to this: that the market can only move up or down when Janet Yellen gives it permission to. Whether it is a speech, minutes, FOMC statement, or one of her minions on the prowl, the market refuses to acknowledge anything else.
Here we are with another week and the market simply refuses to move. We just move by fractions of a point, rather than in whole percentages.
The market is as dull as ever but I'm still profiting because regardless of the market, I account for risk and keep it controlled. But for those looking for a trend higher or lower, well...forget about it.
Below you have the SharePlanner Reversal Indicator and it shows a bearish reversal, but as we have seen time and time again over the past year, the market is only interested in correcting through time and not through price. Perhaps when Saint Yellen (because isn't that what every elected/unelected bureaucrat sees themselves as?) proceeds to bring forth the good word to us on Friday, the market will break forth from this malaise and move forward with some purpose.
Here's the SharePlanner Reversal Indicator: