Another very choppy day as the market awaits the beginning of the earnings season with Alcoa (AA). The tape ended almost flat thus indicating that traders will pass judgment once the data from the earning reports becomes available. Volume rose to average.
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Market opened with a gap down and then tested the 825 support/resistance level but failed to break through upwasrds. From there price trended down and late in the day another unsuccessful charge up ended on a step sell off to close almost at the LOD. VIX fell 1.32% on the day which makes this “change [...]