an-tSionna: Sound & Fury

So I go away for a few days and the market does......nothing. As represented by the S&P ETF SPY, in a week of ups and downs, the market gained maybe 15 cents. Just more of this trendless listless summer markets we've been chronicling for awhile now. I'd also note that stocks are currently trading at the same levels they first visited back in October, 2008. One negative to note is that there is an emerging downward sloping trendline just above current prices that we'll have to watch. The trendline is on the chart but I forgot to mark it. It would be nice to see stocks take that line out to the upside. On a positive basis we are becoming oversold {see bottom of chart} so it is possible that we might add on to yesterday's rally in the coming days.

*Long ETFs related to the S&P 500 in both client and personal accounts.