The IWM (Russell 2000) continued to show strength yesterday. However, it closed up against resistance so it may move back to support from here. The rest of the market remains range bound and with the Fed meeting over the next two days, this situation is probably not going to change today.
Scans today turned up a rather innocuous picture where most stocks show that they will continue to drift as the market consolidates. A few stocks popped up on earnings, but most of these moves are not tradable.
In the market there are days where it pays to get aggressive and there are days were it pays to just not do anything. Today is one of those days where it pays to just not do anything. Gamblers need to keep on rolling the dice, but good traders know when it's time to wait for higher probabilities.
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