Mr Market seems more than content to trade within an exceptionally narrow trading range. A few pts up..a few pts down. Everyone is getting the opportunity to exit ahead what might possibly be some rather turbulent afternoon price action.
With price action relatively stable, indeed, there can be NO excuses today.
Everyone has had the chance to exit or (boldly) take new long/short positions. Personally, I think the latter is just overly risky..for both sides.
*I remain more than content to be a mere spectator today.
Time for lunch...and get refuelled for the busy afternoon.
Gold update from Dr J.
There is clear upside of 35/40 by the close of today, with downside snap level, $25 away.
If I had to guess which way it'll go, then I think...UP.. along with the main market, but I sure won't risk trading it today!
12.03pm.. R2K is very weak right now, -0.6% It did have a very strong run though, so maybe its just cooling off a bit.