Price Action is Setting Up Nicely: Stock Market Update 06/03 Welcome to this week's update. As you can see by the SP-500 Chart, the drop for the last few weeks is now starting to form some sideways bottoming consolidation. If you have been following us you will know our bias is to the long side still based on the fact that the trend has come from the upside and that the pull back is in line with our trading criteria. Having said this, the last few weeks have been very volatile and have started to show signs of short term market weakness which over time could be setting up for what we describe as a Phase 3 sideways Market. This is not proven but the longer term pull back of the MA's might suggest this is in the near future, however we still expect a retracement close to previous highs as a minimum. As mentioned last week we dipped our toe in the water for a trade and you will be pleased to know that we are in open profit waiting for a chance to add to our positions, but at the same time being cautious with our money management in this volatile period that we are seeing. We are now seeing some sideward's price action but we should still not jump the gun and go charging in as we need confirmation to allow us to get the best risk to reward and not catch a falling knife. All of these signals that we have developed are part of our trading methodology to help us stay on the right side of the market and stay consistent and profitable over multiple trades like all other successful traders. Smart money management is the key to successful trading. By being cautious when the market is being volatile and loading the boat when the market hands it to you on a plate is the way you can outsmart the market. We have a number of different criteria's that have to be met for different entry levels of money management which we will expose you to when you become a member.