this is a tricky time to trade... if you look at the hourly atr...

this is a tricky time to trade... if you look at the hourly atr then its been decreasing for almost a month... and on the daily has been decreasing since june... low atr signals complacency, which for many traders is a contrarian sign... the lower it falls the more likely it is to revert to the mean... or more

yet, volatility or atr has been diminishing over the past three years, so a low atr can carry on being low for some time...

For another signal, if you look at the % retracement intraday... a visual scan says this is increasing ... these are signs of uncertainty, profit taking, weakness... yet overall the index is making consistent gains...

and the spi/xjo matrix... sheesh! the spi is manic depressive... it lurches to a bullish high but when xjo doesn't support it in that extreme at the open the spi turns surly and becomes more bearish... so you have this bullish night spi and bearish day spi...

Some bulls would say that this 'churning' is just part and parcel of a bull market working its way higher... and they could be right.. some bears would say that all the signals are in place for a correction... and they might be right... there's something in this market for everyone atm..

oddly, both bulls and bears can trade successfully tho ... bears like dune can pick off 20 points or so in a morning most mornings if they have their timing right... bulls can just wait out the volatility and add to positions at lows and make money... overall bulls who do this are ahead ... the usual story of the market... but in doing so they are taking on increasing risk as complacency grows... cheers!