the stimulus theater has frozen the market. two rallies have been unsucessful in breaking out of the sideways channel. so trade inside the channel.
Monthly – trading between 942 and 738. the downward trending medianline acting as the pivot. need 916 to start a retracement up. 724 will restart the down trend.
weekly – 848 has started a weak retracement up with the next price objective of 899. 796 will stop the trade. pressures down thru 2/20.
daily – trading between 796 and 877. this cycle ends 2/13. and is at a confluence with a price objective. look to the intraday to trade.
flat – intraday is extended down and has met a price objective. needs time to cure. Lower median line support at 805 ; declining .25 per hour.