Where are you going?
Where do you go?

Are you looking for answers to questions under the stars
If along the way, you are growing weary
You can rest with me until a brighter day, and you’re ok

Dave Matthews Band, Where Are You Going?

Yesterday I blogged that the market mainly traded between 115.60-160.30 SPY.  Yes it spent some time above and below, but then reverted to the mean.  Today we had more of the same.   Two trading days of unfulfilled anticipation.  The whole thing is like going to a bar with a bunch of your drinking buddies hoping to “score” and heading home with only those same buddies.

Yes we gapped below this important range on the open and then rallied above.  But we finished right inside this new market sweet spot.   Having said all of that Gold (GLD, AEM, GG, ABX, NEM) offered some fun times for our intraday traders, broke out and is worth our continued attention.

But after this second trading day after the ECB intervention, I ask to Mother Market: Where are you going?