Mid-week market update: While the equal-weighted S&P 500 has been in a well-defined uptrend, which in intermediate-term bullish, other major U.S. equity averages have been mired in trading ranges, which reveal a degree of uncertainty about short-term direction. In addition, the VVIX, or the volatility of the VIX, remains above the 100 level indicating continued uncertainty.
It's time to look under the hood and draw some lines in the sand for insights into short-term direction.
The full post can be found here.
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