Friday's turnaround from morning red to closing green (on the high) was surprising and encouraging for the bulls given the sudden surge of volume and buying momentum into the close.
One consideration from that atypical Friday behavior is that investors have already priced in a possible .25% bump by the FED on Thursday and are now ramping up for the usual Fall surge.
Just a thought, but keep in mind that some of the nastiest market swoons have occurred in the Fall so the validity of that argument is subject to caution.
Before I ran the VDX updates for this week I thought they would look bullish based on this week's positive action (traders consensus at the start of the week was 78% bearish). In fact , the charts are ambiguous for our 3 focus ETFs....all are downslope VDI+ but all have upslope P6 .
Going forward it looks like the risk environment is still volatile and will likely remain so until Thursday and possibly beyond, depending on how the markets react to the FED.