The selling didn't continue after last Wednesday's drop and we didn't drop below those key levels. The market has been moving within a tight range over the last few weeks. I mentioned this possibility last month. The bulls aren't confident enough to push the market higher and the bears aren't confident enough to push it lower. So we will continue this sideways trend until one of these groups wins out. The volume has been low on both the up days and down days, so there really hasn't been any strong clues as to which side is winning. You can lose a lot of money when you get too aggressive in uncertain markets, so I will continue to recommend that we sit tight and wait. I can see a scenario where we have one more move up and I can see a scenario were we start a big move down. I'm not ready to flip a coin for my trades. The only trades I have on right now are Iron Condors, Credit and Debit Spreads, and Calendar Spreads. These trades are designed to work well in choppy or sideways markets. I cover these strategies in Course 2.
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