$SPY in a very tight range. Flirted with breaking the 141.54 level. tried it and failed. Market is clearly waiting for new out of Jackson Hole, so we may be in for some side way action in the next days. We need a catalyst, and it is just not coming.
This makes trading very hard since if we don’t have any direction, the bets thing to do is to scalp names. Take small wins, and drop fast the ones that don’t work.
Just keep one thing in mind. Notice that the good names as green but stuck, and so are the red names. That in my understanding is the market waiting for something.
