Range in SPY Has Lasted for Three Months
The sideways 182-189 range in SPY has lasted for three months. Long term investors tend to get frustrated in this environment but swing traders enjoy it because they get a tight market that swings from overbought to oversold.
Today the market is slightly overbought with SPY showing a ConnorsRSI reading in the 60’s. Additional drifting higher will be the course until an unexpected news event occurs.