DRC June 27, 2024

What a day of trash price action. Long was clearly the trade but to get that trade you needed to hold through some disgusting pullbacks. Pretty great example of no edge environment where you can be corect but to get the W may break you. The reasons why it wouldnt really move is that we are on our 7th day of pure 1% range on the indices and its not looking like we breakdown or breakout until we see some numbers tomorrow with PCE income and spending. MArket will likely just just chop around this area until we see a huge reason to either short or long it. VOLD and ADD are both basically neutral, Indices and mag7 are very bullish but doesnt matter if the overall market doesnt want true continuation until the information comes out tomorrow at 830am. TICK was bullish as well. Just nasty stuff all around.