The markets have gone into hybernation mode in the early afternoon session. The dollar initially was weaker, then grabbed a large bid and spiked up. The up move drove the markets to the negative side. From that point, the dollar has traded sideways and the markets have followed suit. There is a minor bearish pattern on the SPY at this point but the volume remains so light the odds of it playing out in a major way are very minor. Volume is a key component in this market and the lighter the volume, the more likely the markets are flat to higher. Note the close today, it will tell us a huge amount about the coming trading days. Note the chart below for key levels.
