How does this compare to some of the other foreign indexes, especially those in Asia? Well, the China A-50 Index is in horizontal range as is Hong Kong (HSI). The FTSE 100 in Europe is also in a horizontal range but closer to its lower end than upper end. India (NIFTY) has been in a confirmed downtrend since April and closed once again below its 200 period EMA on the daily chart. And Japan - well, that has a bull flag of shorts on it. All in all, its a picture of perfect ambiguity. again.
There is no need to get caught up in this chop. I suspect that this is going to get resolved one way or another soon. Save your bullets for when the tape creates a lot more certainty. In the meanwhile, get some sleep or look at the currency markets for some better trading opportunities.