It sure looked like today was the day for the trading range to break. The economic reports released this morning had the indices flying high by mid-day. But sellers stepped in late in the day and found little resistance. The Dow actually got above its June high today but it closed 100 points below that level. The NASDAQ failed at the island top, while the S&P 500 failed at 1,000 again. Appropriately the NASDAQ and S&P 500 made doji today. (doji = indecision/confusion!) So after all the partying by the bulls today, nothing has changed. If anything, I’d say that the bulls actually lost the battle today because the sellers were able to push the market back down to its lows.
