And then buy. And sell. And buy. We're stuck in a 100 point range here for the last 12 trading days with a few failures to breakout in both directions.
I know. I can handle like 3 days of this crap, but 12? Even as a flipper, that's too much. Glad I took the day off today.
Well, outside day and inside day kinda go hand in hand. Anyway this market completely dismissed the outside day, which happened yesterday, so I ain't sure they will even bother with an inside day. Everything seems to be getting swept under the rug at the moment.
I go flat with all my positions, taking some minor losses from 3909 and 3918. Storms are coming, be warned. 12 days of same range trading is not a good sign. Today is msft’s turn.
Don't know what you mean by hand in hand, but today's ID just delays by a day (?) what the reaction/direction will be. Maybe not till NFP Friday @ 830am EDT.
(The Chart Report) Today’s Chart of the Day was shared by Brian Shannon (@alphatrends). It's a six-hour candlestick chart of S&P 500 futures over the past six months. The S&P 500 has been stuck in a narrow range between 3800 & 3900 for more than two weeks now. Brian points out that there is a lot of price memory within this range, as several key AVWAPs have converged there. Even the VWAP from the Covid low is within this tight range. When you have multiple VWAPs bunching together like this, it strengthens the implications of a potential breakout or breakdown. Price will likely resolve higher or lower out of this range in the coming days, given how long this chopfest has persisted. It would be very constructive to see a decisive break above 3900 in the near term, but that hasn't happened just yet.
Gotta wait and see just where it will break out to. I think you're correct though that nothing will probably happen until NFP comes out.