Good Lord, this market sucks in so many ways. Here, let me show you something that looks like science fiction. This only happened a month ago, and it shows the ES plummeting 130 points in just a couple of trading days:
Want to see life in the ES these days? Here ya go: stuck in a 1% range for WEEKS now:
Down a little. Up a little. Down a bit. Up a bit. Even with blowout earnings from the likes of AAPL, GOOGL, AMZN, and FB. Everyone is falling freakin’ asleep.
At this point, all eyes are going to be on Japan. Tonight, they’re going to make their big Helicopter Money/God-knows-what-else announcement. If USD/JPY rips above recent highs (about 107.25 or so) and stays there, then the bulls have yet another advantage in their very-crowded court. On the other hand, if the market interprets Japan’s announcement as disappointing, then the bears might live to fight another day. We shall see.