What appeared to be a bad start for the markets turned around before yesterday’s close. The S&P500 was down by more than 15 points to close with a loss of 10 points. Today, the index made up more than that in early trading but as the day progressed, it lost some of that momentum. It is currently up 8 points, almost recovering all of yesterday’s loss. We still have 1 more hour until the closing bell.
The major indices have been trading relatively flat for quite some time now. We are at the same levels that we were at, at the end of February. We are in between overbought and oversold conditions and will patiently wait until we hit one of these levels.