jump to navigation

Range Bound August 19, 2018

Posted by Tom in Thoughts.
Tags: , , ,

Aug. 17, 2018 – A quick look at the chart below shows why this market is range bound; i.e. bouncing between high & low price levels.  Note the “short term” trend channel and the support and resistance price levels are nearly the same.


This market is looking for a reason to go up or down, but can’t find the follow through to break out of this range; at least not yet.  Echoing that idea is the rather low volume . . . not much commitment in either direction.

Looking at the top performing sectors (below) we really don’t see the typical leadership; that being Finance or Tech or Energy.  So the major sectors are on vacation too.

Top Sectors

Looking at the percent of stocks in the broad S&P 1500 Index and their status we note it being fairly even without much bias in either the Bullish or Bearish direction:

Price Strength –

Price Strength

Stocks in Accumulation or Distribution –


So, overall not much to dwell on for now.  The old saying “Never short a dull market” may have some validity here because this appears to be more of a pause.  Keep an eye on these levels and watch for volume confirming any directional change.

That’s about it for this week.  Take Care.    ……….  Tom  ………..

Price chart by MetaStock; pie chart & table by http://www.HighGrowthStock.com. Used with permission.


No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: