Then it’s the trader’s enema. Trading ranges are meat grinders. The edges are often not well defined, and therefore are difficult to trade.
At 7 AM ET, hourly momentum was back on the sell side, but our versions of True Strength and MACD were still on the buy side. Momentum usually leads. Except when it doesn’t.
Good day to take off while waiting for the FOMC circus barker to make his announcement.
