More downside pressure was evident in the stock market last week, but a nice rebound already started in the final hours of trading on Friday.
The July lows were not broken to the downside, so we have to consider that we may be in an ongoing up trend for the moment.
With a Green Period now underway we look for an upward bias to trading over the next couple of weeks.
The vigor of upside action (if any) will give us new clues about the underlying strength or weakness of the market.
Will this market break out to the upside or to the downside?
That’s the important question going forward.
Cheers, Danny
LunaticTrader Blog 