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A big part of the frustration for many traders in this type of a market is that we see a huge gap a few times a week at the open, and then spend quite a bit of time churning for the rest of the session until the next overnight gap. Currently, the SPY retracted back to yesterday’s open, but still has to fill the gap, shown below on the 10-minute chart. Note the rejection at 11:50 AM EST from an attempt to get into gap fill area. Despite all of the thrills, flashes, and fills, we have gone essentially gone nowhere since yesterday morning’s open.
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Damn!!!!!!!
double DAMN!
5 stars, chess.