S&P conditions are favorable for stock picking due to low volatility and rising trend; breaking the 18-week support would negatively impact the market bias.

So, I want to focus here on what's taking place in the S&P, and if you notice in both time frames now, we have this declining moving average, and we've got we've just made a lower high and a lower low in the average true range on the weekly, and you can see this bigger one on the daily chart, all right?

So, this is basically a zoomed-in version of this chart. And what what I'm saying here is with this declining volatility and rising trend in both time frames, this is a pretty solid condition to be in place for stock picking, to be able to buy stocks.

Now, where I would get concerned here is if this were to fail, we'd see this 18 roll over and truly break, then we'd be putting pressure on this 18-week line, all right? And so, that's 18 week right here.

And if we break that, then the bias shifts in this market and then then picking stocks is going to get a lot more difficult. We're going to see the volatility go up if that happens.

The other thing I wanted to mention here is that we've had a nice pullback. So we've pulled back to the breakout area and yet we haven't seen you know any damage to the volatility.

So that's a typically a good sign especially now that we've worked this RSI 5 down towards the neutral oversold area. That's that's typically a good sign.

Let's take a look at the four different time frames and if we look at a monthly, we've got pretty solid pattern in place. We're not doing anything extreme to the upside yet and we've got MACD confirmation all along the way.

Green DI also like to see the ADX is crossing above 25. Probably like to see a little bit more strength out of that, but overall this looks pretty good on a monthly basis.

When we look at it on the weekly, we've got a little bit of an issue that has formed and that's the fact that we broke it. Well, first we had this initial breakout and we got green DI going, but the ADX this blue line never really got itself cooking to the upside.

All right, and now we've made another new high and broken out to the upside and again we're getting green DI going showing the buyers are decent, but not decent enough to get this ADX to breakout.

So it's got some work to do. I think the market's going to need to extend to the upside and show some pretty good DI. Get this to breakout to get this ADX going to the upside and then I'd feel like we've got pretty good chance at continuation to the upside.

If we look at it on the daily chart, we've we've had a little bit of a rollover in the MACD. So that might cause a little bit more hesitation here in this range that it's in at this point and we've got a very low ADX.

Now typically a very low ADX means that we we shouldn't stay there. We should be expecting some kind of a move that gets this to turn. So, we're going to want to see if that's green or red that causes it.

If green breaks out again, I think that would be a real good sign. We'd make a pivot low and probably go ahead and attempt to break out. And then we'd want to see if the weekly confirms.

One of the things that has improved is the fact that the sentiment has dropped off a little bit. Even though the market hasn't really done a whole lot, we are seeing that we're seeing the the bulls drift down.

We're seeing a few more bears and I think that's it's a good sign even though we haven't really done any damage to the pattern.