The low volume, low volatility of the last two days seems likely to continue through the end of the week as the market is closed on Friday in observance of Good Friday. It is also important to recognize that the market often does what the majority of people expect in the short term and that a bigger move may be brewing, the calm before the storm? The trendline from the February lows will be “broken through time” if we see another day of sideways action and that would be expected to lead to some profit taking, but failure to bring in real sellers raises the possibility that the market could surge through 117.50 and move out to new highs. If the 117.50 continues to be an area that sellers defend, a close above it could be the catalyst for new highs. Keep an open mind and a defensive posture as the signs aren’t really clear, but the path of least resistance does remain higher…