And the message is "You never sell a quiet market". That is one of those old market adages that has been around forever and for a reason. We'll see what that reason is after Labor day.
The dog days of summer are dragging on as we come to the final five trading days of August. Besides the Italian earthquake a real tragedy, not a lot happened overnight in the markets. This brings me back to quiet markets which we now have, and it appears that they are just biding their time before something happens to get them moving again.
Indices: All three of the major indices have all of their Trade Triangles in a positive green mode indicating that a strong trend is still in place for each index. Even though each of these indices has been quiet, it does not change their positive long-term trend. I continue to see this group of markets moving higher. [Read more...]