The majority view after day 3 of a literally floating market is that the tape is tired with all good eco' data failing to push the market through 1030.   If this is truly the case now,  it should make for a very easy trade to downside with the Bears/ shorts pressing new positions.   Unfortunately, they have little confidence left in themselves or their fellow Bear clan members to join in on such an orchestrated move.  Therefore, we’re left with very shallow and brief dips.  The majority view is all talk and no action at this point. 

In our view, the reason the market hasn’t pushed higher this week is simple as a Supply/ Demand issue.  At these lofty levels you will always have profit takers, every blip higher brings out more of these healthy sellers.  Fortunately, the demand is there to bite on the supply,  unfortunately,  it’s not enough to breakout further.   Either the demand is truly on the beach or it’s just waiting for a new catalyst to kick some Bear butt to test 1044 Oct week highs.