That there is the 5-day action in the S&P 500.
The lack of range and volume is almost comical. We can’t remember the last time we saw so many days that the market closed about 2 points higher or lower than it was the day before.
We can only conclude that we’ve reached financial nirvana. All news is priced in. The market is perfectly efficient. And everyone is happy with their positions, so nobody feels the need to trade.
For a full roundup of what happened today, see here.
Photo: Wikimedia Commons
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