No energy

This week has seen almost no net change as the days have yet to close above significant resistance at the 1115 area which is showing signs that there is no energy in this market. We are down again in the globex session and we will see if there is any window dressing today as this is the last trading day of July. For those who have attended my seminars and who are advisory subscribers know about the box formation. This formation is very reliable and could form in the coming days but we will have to be patient as this high probability setup takes time to play out. The daily CCT is at +36 and becomes more short term overbought at lower prices which would seem to confirm the lack of energy in the market. Be careful today as there are numerous news items combined with the end of the month and swings could be good in both directions.