Man, I had it half right here
The market hasn’t done a whole lot except hold range despite negative headlines. This tells me that perhaps we are ready for a leg up. But only time will tell. The long term bollinger bands are about as tight as they have been for 65 years. So either way there should be quite an explosive move but in what direction remains to be seen. The market corrects at least 5 percent each year and it hasn’t yet (well the RUT (8 %) has and most individual stocks have, but not the SPX).
It was damn explosive and a big move was apparently brewing when I wrote that.