Just a Choppy Day

Since breaking below 1110 the market has just meandered up and down. Looks like we will finish the day right around 1110 giving no clear indication of direction. Question is did they take the market down to eliminate the weak longs and accumulate before taking the market higher. Its a good question. I do believe we will move higher as I expect that we trade up in the high 1120s and maybe even to the low 1140s before the market makes a significant move to the downside. Today's action however suggests that we may trade back down to 1098-1100 before continuing higher. In any case, the next major pivot high will undoubtedly be difficult to catch before the next major market move down...