Churn is starting to tighten up.

The churn on the S&P 500 started the day after my last entry signal. These things take time to develop and to see. On that date if all 3 exit signals were to fire, the exit price in the S&P 500 would have to fall from $1680 to $1577. That's 103 point drop or 6%. At today's current price as I type this post, the S&P is sitting at $1686 and the exit point is $1607. That's 79 points or 4.6%.

The point is this. Price is going sideways. The 50 day moving average is catching up and is sitting at $1662, uptrend level is $1607, and the CBl is $1676. All prices, except the CBl is squeezing in and something will have to give soon.

Last note, the overbought and oversold levels are also sqeezing in on the current price and this to indicates that price is going to break soon in one direction or the other.

Problem is we have no clue which way it is going to break but I bet that something will happen within the next 10 to 15 trading days. It's going to snap in either direction and it will likely be strong.