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After getting knocked down this morning stocks began to creep up slightly in the hour or so before the close, but don’t read too much into that.
This market is desperate for two things – a catalyst and some clarity. Trouble is, there’s not much of either right now. The market just can’t get a grip on forward risk; it’s not able to exit the box.
And so we’re back in a place we’ve been before and it’s no fun – unless you’re a trader. We’re livin’ and dyin’ in a 200-point range between 5900 and 6100 on SPX.
Those levels bookending us are important – pay attention to them. What I’ve got to show you tonight depends on it…
