I find it puzzling that the range from low to high of most of the iedexes, Dowindustrial Nasdaq, NYSE and others was so narrow yesterday yet volume was normal? Howcan ths volatlity be so tight? It was as if the market was only open a short time? Comments?
Remember that the market is made of the bid/ask and the bid/ask volume combined with the net volume of market orders. Basically what you had yesterday was a churning effect, buyers and sellers being evenly matched and pushing each other back and forth, but not enough to establish much more than a short term trend, ultimately leading to a flat pattern for the day.