The low volume of today’s 1.4% fall may suggest that this could be a bear trap. Most selling were traders shorting the market and trapping bears in it.
The market is waiting for the consumer confidence report tomorrow at 10am, any reading above 50 should ignite a rally. Tomorrow, the FOMC may also give a surprise policy news, and thus the market is wary of it and it could rally leading into it.
Not much to analyze here, except to note that the market is volatile and indecisive.
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