For the week, when you look at the chart, you’re up 1.4 percent. If you take a look at how the chart has gone, just on a regular bar chart, you can see the market’s gone up, made that high just over the $3500 level, backed off, and now it’s in a consolidation phase. While it’s consolidating, it’s doing a good job so far of keeping the higher lows and the higher highs in place, which is what makes up a bull market.
The Bollinger Bands, you see where the resistance is in the market, and they’re fully back in play at this point in time, and momentum has stayed down.
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