Well, that's a rap. Tight trading range and as I thought a potential bounce on inline economical reports, though a weak bounce with such lite volume. Many are sitting out sideline waiting until tomorrow to see what happens with the Fed's rate decision. We will see, have God blessed evening all.
A pre-market sweep of the trading rooms reflects Shorts relaxed and taking advantage of the downtrend in their coverage and a balance of skittish Bulls considering the potential value stocks for accumulation going forward, both sides are balanced as well in the hedge. Pre-market world trade is low volume, not a lot of real weight in this downtrend. IE Should late morning economical data be in line we would see a bounce if the Bulls take to moving in. We will. Being just a day out from the Fed meeting, there is a lot on both sides sitting out sideline, playing it safe, and being patient. IMO that is smart play at transitional levels.
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