Meta Strategy Trading Portfolio – Probability Map Update.

– Positioning Update Tuesday –

A Test of Patience

Another week – another rollercoaster ride.

Just after Wednesday’s post-FOMC debacle, it looked like a decisive break to the downside had finally infected the broad market.

By Friday, however, the S&P 500 had simply jumped back above its 20 dma.

The part that grinds on traders’ resolve is that nobody can tell for certain when a sideways consolidation finally ends.

Was Wednesday’s washout the final test and enough weak hands threw in the towel to ignite the next advance? Maybe.

Or will the grind continue into October? Possibly.

My money is on path #1, because of a persistent slew of positively aligned data.