I haven’t posted very much this week due to the lack of movement in just about everything. As you well know the market has been in a very tight range lately. I read a statistic yesterday that last week’s movement (or lack there of) in the Dow was the tightest range since January 2007.
I’ve noticed that the Aussie dollar has been weakening slightly and new 52-week highs have continued their decline, diverging from the major indices. It feels like traders are holding out for Jackson Hole and see if Bernanke pulls out his bag of tricks. Until then we will continue to respect the market action, as boring as it may be.
