the giant sell order that kept smashing the market in the last couple of weeks is gone today i think. we may have a nice run-up for a few days before it reappears again. maybe it is just a wishful thinking.
I agree we are due for a rally, but this doesn't feel right and I'm long. I think we need to see at least one more day of cookie tossing, maybe somewhere in the mid 7000's. Right now it looks like the selling MAY be done, but there are no size buyers. A good sharp selloff could bring them in. Just my .02
There are no massive sell orders because of the talk circulating about the Fed thinking about cutting to zero. Why sell in front of an almost guaranteed 50BP cut and small chance of a 150BP cut?