New Money?

Today marks the beginning of a new trading month and we will see if there are additional inflows of money today and tomorrow as we head into the holiday weekend. Historically the few days leading up to Labor day are very light in terms of volume and volatility as people start vacationing. We will see if this market can make any significant moves before next week. Yesterday saw yet another test down at the 1037 level and we now have a clear box pattern setting up that is between 1035 and 1060. For those of you on my advisory, you know that this is a very credible pattern and I will discuss how to trade it along with specific trade recommendations in the upcoming advisories. The daily Cook Cumulative Tick indicator is at +198 for the short term.