Short-term: neutral until Tuesday/Wednesday when I'll short again
Medium: Bottom late August
The broad trading range market continues. The last thing I want to do is make directional bets in a non-directional market. The weekly trend is down but that allows for a good upside pop. Tuesday/Wednesday are when I'll look for a top to short. Yesterday's market was distorted due to government intervention, but the SPX 200-day was tested and held.
I1 predicted the beginning of this trading range with an 8-day lead.