Today has been the least eventful 30 point gap up in NASDAQ history. First off it went neutral by 12:30pm making the whole thing seem like a hoax. Then, as if sentenced to purgatory, the market went full Cato–grinding about its mid meaninglessly.
It is no wonder a small sell program was able to tip the sleepy market off its stool at 3pm.
Again, nothing redeeming about this tape. It is toxic Krampus land. And until The Fed doesn’t raise interest rates tomorrow, we’re all in for more senseless chop.
Volume is lethargic, price action is moot, and all eyes are affixed on tomorrow 2pm. Try not to get caught in the wishy-wash mates.
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