The market has been nice and flat since about noon, remember "We don't see many V shaped reversals, they are usually U shaped"? well it's time that creates that "U" shape and it's flat markets/ranges where distribution and accumulation are seen the most often, right about the same time most traders are bored to death and not paying much attention, this is why I always warn to be careful in dull markets.
In any case the flat range I think has more to do with VWAP and institutional money's use of it, most likely it is their tweaking that creates the flat range as they (market makers and specialists) try to fill orders at VWAP (if they want to get future business).
GOOG Update and plan coming next...
AAPL starting to get a bit ugly
5 years ago
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