I have been in the bear camp due to the Fed's further inaction. Even though I am not a fan of Mr. Trump, he is 100% correct we are facing a bubble. The longer the Fed waits to act, the larger the bubble grows and the harder the markets fall in their split-second psychological reaction. The Head and Shoulders pattern could be the beginning.
Still would not be surprised if a September hike happened. If it is not now, it has to be December. The question remains, how much damage will occur if we wait until December.
This 58 day tight trading range is certainly not good, and its a clear sign investors are afraid to go long for much longer. If enough people prepare, they can be ready to profit from the next crash instead of becoming one of its many victims.