I have to believe that Q3 GDP will cause a rally this week (comes out Thursday), 'if' the bulls are still in control. I've seen 6-8% for GDP for Q3. The media will eat that up. J6P will be taking out all his cash from the mattress and buing stocks. If we don't go up, we're in that distribution top phase.
That's my PA (Psychological Analysis) take on the market (probably not that different than TA). :) Your 'meandering' take suggests to me a distributive top building in process.
ST: hibernating till Sept
IT: hibernating till Sept
LT: Bearish
It's over, yhoo said so.