The View; It’s All About Price

I wish I had something meaningful to say about the market today, but I don’t. Something meaningful doesn’t happen everyday. The market continues to grind higher, inching up in a such a subtle way that the lack of momentum is being considered somewhat bearish, but it’s not until it is. By now we have all heard about some sentiment indicators reaching extreme levels but like everything else, nothing matters until it does. Once we get the price break many are looking for that’s when these sentiment indicators will matter only because we all will look for a reason why the market went down and we will find solace in them. But the key is a PRICE BREAK, price is the most important factor, the one thing that matters all the time and unless price is confirming all the secondary indicators they are meaningless to a certain degree, they flash a yellow sign not a red one.

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