The long we go sideways, the healthier this becomes. But decided to throw the weekly chart in there this week to point a few things out. You can see the weekly 20sma has rolled over and is now heading down. My guess is that we just stay pinned between the weekly 20sma and the weekly 50sma until they converge. If we can just hang out sideways in this range until that happens, it would be around that time when I would start to think that a large move from this base that has been developing can occur.
Comment:
Correction: SETUP LONG - The long we go sideways, the healthier this becomes. that's when I would start to think that a large move from this base that has been developing can occur.