Fairly tight range today between 1299,50-1304. TICK is mixed, although it`s oscillating above zero, not below. 6 of 9 sectors in the red. I`ll be looking to go long a bounce from 1299,50 for a test of the daily highs or a short if we close below. That is, if we go there at all, but it`s what I`m anticipating right now.
Terribly boring day so far. Will we begin a rally today or will we have to wait for tomorrow and the T-day boys before the next ramp?
Boring day perhaps, but the cool thing about such slow days are that they eventually will break out the range and that`s where you will find opportunity. Watch for what happens around 1302,50 or 1299,50.