Off the Charts

The market opened higher again today, and again hit the snooze button for most of the trading session. The indices have snapped-back well from Monday's lows, but traders have been somewhat frustrated due to the fact that most of the movement has come overnight. The perils of over-trading in the summer have never been more evident than over the past few days. The S&P finished the day up 0.62%, while the Dow and Nasdaq both climbed 0.77%.

Not only has the lack of intraday power in the market caused some consternation for short-term traders, but it also doesn't add much conviction to the short-term bullish thesis. Yes, the market has erased a large portion of last week's losses, which is positive, but the gains this week feel somewhat illusory and could be the result of end-of-quarter window dressing....774 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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