It appears the markets are not quite sure what to do at their current levels, showing hesitation once again today. This is a shortened holiday week, and maybe the markets are still a little tired from last week's rally, but we aren't seeing much conviction in either direction.
This is a stable area for the markets, in reference to the technicals, as long as they can hold above current support levels. During the Mid-Week Update class, we discussed the possibility of increasing sideways movement as we move deeper into the summer. There are great opportunities out there and they don't always have to be directional. Keep this in mind over the next couple of weeks...who knows how long the markets could consolidate for?
See you on this Sunday's live Trading Room class!
Have a great night,
Your Maverick Trading Team
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