S&P finally broke the resistance at 1370 and now heading towards 1387 resistance. Since start of the rally, we have seen the similar pattern of consolidation and breakout and consolidation. Market is moving very slowly and keeping making higher highs in this market. Market hasn't broken the bullish trendline which is strong sign of this market.
Market breadh is not showing much action. Oversold-Overbought ratio is staying very low that shows that not many stocks are making higher highs. Many stocks are consolidating at the top or pulling back. This has been the same situation since last 3 weeks. I am sure it can be fustrating at time for many trader as market is not moving fast.
I don't believe, we are seeing much buying or selling either.
Until we see heavy negative breadth in this market, this is a good market to keep looking for very low volatile good setup for long entry. One has to have patient in this market to make money.
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