It was a welcome relief to avoid having a tenth, yes, tenth day in a row of the market lurching higher. One day does not a trend make (or break), however, and there’s something more general I wanted to share which is on my mind, particularly as we await the pointless Fed announcement and press conference on Wednesday.

It’s what I’ll call the “zone of uncertainty“, which is the space on the y-axis spanning from Friday’s peak to the peak of the March 25th bounce. I’ve marked it on each chart below in yellow. Give these big indexes a glance………..

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