Still Unresolved

After a week has gone by, the market still has not decided on which direction it is going to take in the near term. The DJI is still testing the 8400 level for support, and the SP500 is consolidating at the 910/920 level trying to decide whether to break above the trend line and move up to test the 200 SMA at the 950 level or pull back to the 870/880 range to test for support. The Nasdaq 100 broke through the 200 SMA and pull back to test it for support. It appears it is getting ready to move up to the 1470-1480 level if it hold above the 1380. Until the market has decided to move one way or the other, the direction for the market in the near term is still unresolved.