April 7, 2018

US markets down 2% on Friday. So what?

Past 1-2 weeks, US markets have been trading in a range between 2560 and 2680 (SPX). This has resulted in very wild and volatile moves of 2% or more either up or down.

So this becomes big news like US market tanked 2.2% but since all this is happening within a range, one can safely ignore what is happening.

Till markets break out from the range, nothing much will happen.

People trading the range on lower timeframe charts would have made fantastic money though.

Following chart is 30 min

While this is daily chart

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