The Market Continues to Chop

The chop fest continued this week as the major indexes, in particular the S&P 500, has failed make a meaningful move. We tested the highs of the range last week and briefly broke out but to no avail as the rally quickly sold off and the S&P retested the lows of the channel. Here's an hourly chart, note the choppy action of the wide volatility stops:Maybe we'll see a break one way or another next week...until then there's not much to do but to maybe fire off a few quick day trades and book profits pretty quickly. The swing trade in UTX got stopped out, barely, but out none the less. The only position that I'm currently holding is a trade in JNJ that I'm trailing a stop on. JNJ has had quite a run lately but who knows how much move is left...I'll let the market get me out.

As you can see, I haven't posted much in the past week or so. Mostly because there's not much to post but also because I've been incredibly busy with the law work. I'll be in court for a civil trial Monday and then will probably start posting more regularly after that. Hope everyone's had a good week.

TLT