Market Review: Bearish Candlestick at the Close

Things have been pretty quiet the last week and a half after all the fireworks the week the Fed and the ECB made their comments and commitments to help back stop any problems that crop up, we have seen the markets just creep along.  The word I like to use is churning.  There is trading happening its just going nowhere we have failed to close above $141 yet since we got close 6 trading sessions ago.

Not much is going to move the market right now because a lot of traders are taking vacations before back to school, since the central bankers spoke a few weeks ago that has alleviated concerns about Europe for now.
My expectation is that the market will churn with a slight downward bias for now.  These situations in the market are like loaded springs long periods of no movement can eventually spring on big news..  The candles stick that formed was a negative for the market it shows the market still does not have enough to push higher yet.  I figure we should start to see real movement as we get into September. 



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Disclaimer: This article is intended to be informative and does not constitute a buy, hold, or sell recommendation., and should not be construed as personalized advice as it does not take into account your specific situation or objectives