A 3 week consolidation

The last 3 weeks the $SPX has been in a sideways trading range.  From here we can go one of 3 ways, continue sideways, breakout to the upside or similar breakout action but to the downside.  The curbs of the consolidation zone appear to be approximately 20 points either side of 1400.

The VIX continues to consolidate as well - at the lowest levels it has seen in years.  Oil took a hit in the last few trading sessions and Gold is hanging in there despite trading under both its 200 and 50 DMAs.

Q1 is over, earning will begin hitting in a matter of weeks and Q2 and Q3 are going to be extremely busy around here with lots of work to do.

Dow Jones

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S&P 500

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