As I said yesterday:
In fact, even the various markets are providing conflicting information. The Russell is the only one that closed at an intraday high. Is it leading the way, or just out of step? That is going to make me cautious at tomorrow’s opening.
Looks like the opening gave us the answer. We started with a small gap down, bounced twice from the previous pivot, and couldn’t even match yesterday’s small range. Intraday high to low — 5.8 points.
One of the hardest things for new traders to learn is that when there are no trades, don’t trade. Today wasn’t even worth a chart.
