Market Remains Weak

Last week, the market ended the week mixed. The Nasdaq slipped -1.26%, the S&P was off slightly at -0.14%, and the Dow closed up +0.43%. Volume was lower for the week.

The Nasdaq and S&P both closed the week "inside" the prior week's range. That means there was no directional push outside of the prior week's highs and lows, so there was little information given about market direction.  

The S&P is still stuck in a weekly/daily range pattern with low ADX on both timeframes. The Nasdaq, on the other hand, has a low weekly ADX, but high on the daily (29). The daily ADX is rising, and the +DMI is dominant; this is not a good signs for the bulls.