So far this feels like a range day with mixed trading. The market opened lower with an overhead gap that was quickly filled, and now prices are just chopping around with no real direction. The bias is mostly mixed, but the early sell off and the fact prices cannot trade back above the midline of the range gives it a downward biased feel.
Expect mixed trading no matter how the day plays out and respect the range until prices show us something different. We have seen the market turn on a dime and trend strongly in one or both directions several times lately, so do not forget that fact. Wait for corrections to enter and do not chase the market, as that is what gets you in trouble.
