Post-Labor Day Trend Watching

While I still think the market will resolve this long period of consolidation to the upside, what I know is that between 1265 and 1302, the market is not telling us anything useful. It is just consolidating. So no one can tell you which direction the market is going to go next until the market itself tells us by either decisively breaking 1265 to the downside or 1302 to the upside.

That could happen this week week, as the portfolio managers come back from the beach. The first few days after Labor Day will show their initial bias, bullish or bearish, and then if the other side cannot turn that tide, we'll know what the major trend is.

Find out what to expect if it's up or down when you read Jon Markman's post here.

by The Freshman |  09/04/08