..the market crawls methodically for 1131 retest
We can wrap the today’s market by repeating yesterday’s first paragraph as the context remains the same. Overall, simply buyers on fence and shorts not eager to press on with new positions.Market sticks to tight range showing more signs of resiliency as buyers show up to buy dip blips off anything that can be construed as possible bad news. (*China Stress tests (housing)- Commods bought up after headline pressured them. Still, this may get more attention as the belief recently was the China gov't would be "relaxing" things. Also, the discrepancy in the steel uptick end of July vs. X's and other steel co's guidance not resolved. Leaning on the X side as to what might be occuring going forward.
Overshadowing a broad tight range market was the outperformance of DJIM’s Q stocks as traders buy the earnings. Recently mentioned, EXPD led the charge ( last week noted as long as transports stay intact the market would be fine) with VMW, ILMN CLW hitting new highs since releases.