S&P 500 opened flat and quickly tested the Pivot Point for some support. Then price moved straight to just below the R2 line and camped there for the rest of the day. Volume was very low.
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Bernie Madoff was sentenced to 150 years in prison. Energy Sector was strong on higher oil prices

Choppy start of the trading session close to yesterdays’ lows which followed with a classic close of the gap move. After that the steam run out for the bulls and price took a dive again. The last two hours of trading were very choppy and the day closed almost flat from the opening. Volume was [...]

No clear direction all day. The market gaped up but quickly closed the gap. Then a sudden rally to the HOD followed by a clearly defined downtrend channel with a fake brake upwards around 1:30pm and an actual break upward at 2.45pm. Then a rally almost to the HOD with substantial profit taking at the [...]

Consistent and orderly sell off from the start of the day with increasingly fear. Bulls couldn’t or wouldn’t firm up bids. Sell off accelerated after a minuscule rally failed (rally led by Financial Sector, most likely shorts taking profits). In the last half hour of trading, the S&P 500 hit an intraday low of 699.70. [...]