The NYMO cycle is UP!
A low was put in on 12/19, and we have been making higher highs and lows since.
Price has been range-bound ever since the NYMO low on 12/19.
Perhaps this is a bear flag as price consolidates through this up cycle. I don't know.
Price did make higher highs and higher lows in both November and December. So, there's something bullish.
Another bullish thing is that the market seems to be getting less downside sensitive to hawkish Fed speak and positive economic news.
I see a big coil around the middle keltner band with price joggling in the mid-section between the August high and October low.
In a word, we are Trendless at the moment.
Let's see what happens when this range of the last few weeks breaks.
There are open gaps above and below that merit closure.
There are a bunch above from last year that are technically stranded and irrelevant for now.
I am flat and have been for awhile. Took it easy over the holiday's.
I seek to buy trends, and SPX doesn't qualify at the moment.
That will change. My next trade could be long, short or both in succession.
I haven't got a clue...
I have been working trends in other assets in the meantime to pay the bills.