Traders Are Working Hard to Remain on the Fence Until Next Week
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Happy hump-day, one and all. We've actually got quite a bit to work through today, so let's not tarry. Let's just dive in, starting with the item I'm sure weighing on your mind most right now...
what the heck is going on with the market right now? This won't be the first time you've heard me say this, but traders just have no conviction at this point in time. The S&P 500's low-to-high range this year has spanned about 13% of its current value, confirming volatility has been plentiful. But, the S&P 500 is essentially flat for the year so far, telling us traders can't justify higher or lower prices for any length of time.
It's been maddening to say the least. I'd love for the market to move higher, though I don't care if the market moves lower; I can make money in both environments. I just need it to make some net-movement, which is the one thing it hasn't done much of this year.