Vacuum of Volatility
Like everyone else, I was expecting to see very little action today until the rate decision. But this narrow range and light volume is off the charts - almost literally off the charts. Maybe we should just close the markets in the first half of FOMC days and get some extra sleep! But since we are here, I had a chance to look over enough charts to question my newly established bullish bias. I am obviously sticking with it but today’s vacuum of volatility is unsettling and if we hadn’t stayed above the high close over the past three weeks, I’d be even more nervous. Enjoy your last few moments of calm before the storm! One is coming.

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