Pressure BioSciences (PBIO) Knocks on the Door, While Intelligent Content (ICEIF) is Just Running Back Through It
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Well folks, that's day seven (and arguably day nine) of this range-bound trading action. It's quite remarkable, really. For the past year and a half the bulls and bears were exchanging blows, and stocks were anything but content to stand still. Now we can't get them to do anything
but stand still. Since July 18th, the S&P 500 hasn't traded below 2160, and hasn't traded above 2175.
For a while I personally felt it was just the calm before the bearish storm, but now I can't be so sure. The longer the market moves sideways, the more developed this floor, or base, becomes, giving all the moving average lines and would-be buyers a chance to catch up to where stocks are. To heck with valuations. We'll just have to see how it pans out.