sp'daily5
R2K
Trans
Summary
A pretty dull day in the main market, even though we did close somewhat lower.
Until we get a clear break either above 1700 (and more importantly 1709), or below 1675, this market is simply adrift. Indeed, this is week'5 of a very narrow 2-3% trading range. Dull dull...dull!
--
With two QEs to end the week, and opex on Friday, it'd be surprising if the bears or bulls break the current trading range.
However, weekly charts continue to suggest the bears will achieve a downside break early next week..opening up a target of 1660/50s.
a little more later...