Summer volume part of it, but in this case I really think that the market has hit the pause button while waiting to see exactly what the FOMC yields ... the market chases liquidity, and this rally in part has been fueled by the expectation of increased liquidity. Regardless of the Fed statement, I think the ultimate direction from here, at least short term, will be up. But technicals only point to probabilities and not certainties. Narrow trading range here at the highs likely until post-FOMC at 2 PM EDT Wednesday, imo, though there is certainly room for a deeper pullback between now and then.
It is also a full moon. LOL. By itself, IMO, that means nothing BUT... Studies have shown buying the full moon and flattening on the new moon, when done consistently over time, outpaces market returns with less market exposure. Phases of the moon are immutable time/timing data points, perhaps worthy of awareness.
Has anyone shown B1S2 the current NQ polling numbers? (+51 points on the day). What happened to the Monday crash, Bro? #piker
This week we've got a full moon, an FOMC release, and on Friday alone.... Xi Jinping meets with Kim Jong Un/triple witching/the summer equinox/and NL's birthday. ...Something massive this way comes.
Nice overnight move for those who stay up all night. Today for the US traders, a nothing burger, Sideways range.