The dip buying… what can be said that hasn’t already been said. Everyone is tired of this market. Everyone is tired of the market that won’t sustain a move in either direction.
The daily bands on this market are so tight, historically tight, and price can’t move above or below it, and sustain that move.
An then you have this obnoxious line across the SPDRs S&P 500 (SPY) chart that shows the level, in perfect detail, just where the dip buyers are coming in at EVERY. SINGLE TIME.
Until the market can break this level and close below it as well, then you really don’t have a legitimate move on your hands and the market will likely keep us in this dull trading pocket that is wearing everybody thin.
