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A market like this, where stocks move a little higher and then gently drift lower, can be really deceptive.
There’s not much you can read into a market that’s down… a point. Financials are down a little, tech is all over the place and news-driven, energy is massively unchanged…
The advance/decline line is… slop-tastic.
It’d be very easy for a trader to see things that aren’t there right now. Very easy for a trader to get caught with their pants down.
The expected move has markets penned in in a ridiculously tight range at the moment, but volatility is out there.
I’ll show you what I mean with a look at the SPX, which is just riding the upper edge of the expected move. Watch…
