The market is showing horrible internals, participation and mcm Money Index activity. Notwithstanding, implications are not particularly good. There a tendency for weakness into around the 7th of August +/- a few trading days. This week sees weakness into the Friday AM session with some up sticking into Monday AM over the weekend. This then leads to larger cycles and downward pressure into the target structures. So far MSP has done an excellent job, but the days have been pretty choppy which has been frustrating.
This year, after several amazing years for trend followers has been one of the most horrible trend following markets imaginable. This condition may start to improve as we move into the end of the latter half of the year...with September/October being a particularly good looking time for trend following to gain some traction.