It's Supposed to Be a Non-Confrontational Holiday Week of Trading!

With premier leaders like NFLX getting hit, and crude oil taking a beating after the inventory report, we are seeing anything but a typically pleasant bullish drift higher into the long Labor Day holiday weekend.  

On the 30-minute chart, below, of the S&P ETF, the action over the last two weeks has morphed into a larger sideways channel. Staying out of trouble is still the name of the game, which is a strategy we have been preaching for a while now for Members. 

I am looking to see if $191 holds this week. Below there, I suspect we could have an rough close into the long weekend. 

For now, it is too easy to be chopped up via over-trading. So we have been focusing on less is more. I will flesh out other markets for Members in my usual Midday Video, filming now.