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For pretty much this whole week, the /ES has been confined to a minuscule ten-point range. That would make sense if the jobs report – the single most important report of the entire month – were still looming, but the report is history now, and the market still cannot make up its mind.


It'll be nice when earning season really kicks in so we can briefly stop thinking about QE2 and actually think about corporate earnings, which used to be what the stock market was all about, long ago.