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S & P - Still In A Trading Range. Waiting For The Election.

Monday Evening  1 November 2010

 Price is in the 13th day of a protracted trading range.  Monday was
a large bar with a close in the middle.  It says what the previous 12
trading days say:  There is a balance between the buyers and the
sellers.

 What to expect?

 Maybe one more day until the election results come in.  Despite the
continued lack of demand from buyers, there is even less interest
from sellers.  There is nothing to do until the market makes a
statement with a directional move that has increased volume behind
it, something we have been saying for the past few weeks.

 Here is a perfect of example of why trying to predict what a market
can do is an effort in futility.

S&P D 1 Nov 10