Sometimes the markets are not in a defined trend, or are in a price channel. This is fairly common, as no market moves straight up or down.
It is difficult to make money in this environment. Your job then is to be out of the market, and to wait until the trend changes to an uptrend.
The following chart shows a stock, Johnson & Johnson, with no defined trend.
Chart courtesy of Yahoo Finance
(Click to enlarge)
But be aware that while a clear trend may not be visible on a daily chart, it may be clear on a longer-term chart. Below is a chart of Johnson & Johnson over 40 years. The trend is definitely up!
Chart courtesy of Yahoo Finance
(Click to enlarge)
