Feb03:Up,Down,Up,Down,Up ... Choppiness within the 198-206 range since this range was set on January 5th.Oil has bottomed so far, and this could be a game changer. But until this is confirmed and it breaks either above or below this range, we can expect more range trading weeks.
The Trend indicator is positive meanwhile the Momentum indicators are negative, Negative Momentum on Positive Trend = Stop or consolidation. Which is what is confirmed by the Overbought/Oversold indicator on its 50/50 level. And finally the Accumulation/Distribution is at its top with no move to either side.
So unless there is a strong trigger, the market seems to be consolidating around the 198-206 range.
The Trend indicator is positive meanwhile the Momentum indicators are negative, Negative Momentum on Positive Trend = Stop or consolidation. Which is what is confirmed by the Overbought/Oversold indicator on its 50/50 level. And finally the Accumulation/Distribution is at its top with no move to either side.
So unless there is a strong trigger, the market seems to be consolidating around the 198-206 range.
