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Published on Aug 28, 2016
The
S&P 500 went back and forth during the day on Friday in a very
volatile session. When it up just slightly down though, and as a result I
think we are going to continue to see quite a bit of sideways action.
Volatility will be the order of the day, and of course could pick up at
any moment. With this being the case it’s likely that we will have to
stick to short-term charts. I still have an overwhelming positive bias,
especially considering that the sellers couldn’t keep the market down in
the end. With this being the case, I’m looking for short-term buying
opportunities at this moment. After a while and more importantly one the
volume picks back up, I expect us to go much higher.
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