February 21, 2006 Stock Market Recap

There’s really not much to say about today besides “more consolidation”. The S&P and Nasdaq remain in their few month long trading ranges but the Dow is still hovering just above its trading range. Absent some market moving event/news I think the indices just drift back toward the bottom of their trading ranges. I’m finding about twice as many swing short setups as longs so I’ll be trying to capitalize on some of those tomorrow if the market’s weak.