4 Aug 2015 - Tug Of War

There is still no clear trend as to where a prices are headed.  I have used all the words possible to describe this market from stagnant, sideways affair, volatile, to no urgency.  It has been this way since the start of 2015.  Many cycle analysts are looking at 2015 as a breakout year, because they say that it "should" be this way.  I can neither deny or confirm those theories myself, but what I do know is what's in front of my eyes.

The trend is down for the short-term but what I need to see is for it to manipulate the mid-term sentiment that has the market up at the moment.  This market at the moment is at limbo (I haven't used this word this year I do believe).  I guess the easiest way we can describe this market is that it is standing in front of a line.  On one side is a bullish side, and on the other is a bearish side, and all it takes is one step to turn a market into a bull or bear market.  Confidence builds if we are much further from that line.  This is why we keep seeing the ST varying from Up trend to Down trend in a matter or days and this is also why the MT is UP while the Market Sentiment to the right is Bearish.

It is always a hard market to play when you are playing the line.  So as it was said yesterday, things need to play out on their own before we know where the market will pull us into.

MT: UP
ST: DOWN
PA: NA