[Click on the picture above to see how Murray defines trends using Bollinger bands and discover where the best opportunities within a trend can be found.]
With the G20 providing some bullish tailwinds for the S&P 500, it is right on the cusp of a major breakout from an 18-month consolidation period. It’s blue sky above here, so it won’t take much to ignite a rally that will gather momentum as it trades higher. But I’m not ready to stick my neck out and say that’s what is about to happen.
I have a technique for defining trends that I show you in today’s update and it hasn’t had the final confirmation that I need. So until that happens, I think there is still a chance that the music could stop and prices could return to the middle of the range we have been in for the past 18 months.
I always want to leave you with something worthwhile from my weekly videos, even if future market direction is cloudy. I think my method for defining trends and looking for opportunities using Bollinger bands is something you won’t have seen anywhere else and is something you can use in your own trading.
Editor, Alpha Wave Trader
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