Evening folks! Flat day in the markets as we are digesting last weeks 4 day run and break over the box we had been trading in. Its very typical to chop around for a couple days after a run and we did that today. Market was in a pretty tight range for most of the day. Very little conviction from the bulls or the bears we jsut drifted around for the most part. Days like this are the trickiest to trade as its a trendless day and as trend traders tight ranges only avail scalp opportunities unless you catch a news/pr type play.
Overall the technical picture hasnt changed even though today was dreadfully boring I didnt see any bearish undertones. We are just in a bit of a distribution period as the velocity of the markets multi month bull run has slowed and is re-adjusting.
Here is todays video:
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