Market still range bound, what direction is next? Perhaps both.

I suspect the market will likely take out traders on both sides, with higher volatility months ahead (July to October) there is a probably a good chance of a large drawdown and then a rally. Hope this provides solid trading opportunities.

The 1-min chart of the gap down and rip on Friday 17 Jul is interesting to study & remember. The rally did not start right at the open, rather sellers pushed a lot further down first before exhaustion but then the rally was confident.

The range does not get any more clear.

Will the weekly RSI fully reset lower during July-October? That will provide an epic opportunity for a long position.

Edit: another gap down, water-boarding until 11.30, some rally, fade again and after hours spike.