If you’ve been trading this market for the past 10 days as I have been doing, it has been one of the most boring markets ever without a holiday looming around the corner. 

Apparently investors are sneaking off to the Hamptons again for one last summer vacation before shipping their kids off to boarding school. 

Meanwhile, I’m here typing out another blog post while waiting for my son’s public school to start (yeah, I live life on the edge). 

If SPX finishes higher today, then you have the 11th consecutive day of SPX trading in an up/down/up/down fashion. This doesn’t happen very much (only 10 other times since the 1920’s), but ironically it did happen back in November 11 through December 2 of last year for 13 straight trading sessions. 

What was the end result?

 

It was the calm before the storm that jump started that massive sell-off in December that lasted through early February. 

And lets not kid ourselves – oil keeps dropping and dropping fast. At some point, if it continues to sell-off, the market won’t be able to ignore it, and the big oil companies will see their price start accelerating to the downside which will obviously kill this current rally the market is on. 

So be aware, watch how this up/down nonsense resolves itself and be prepared for what oil might do to the future direction of this market. 

spx up down up down

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