by Mark DeCambre
Where is this market headed? It is anyone’s guess.
The best description of the docile trading lately may be Mark Newton’s characterization: no-man’s-land.
“Everybody is sort of scratching their heads about this market,” Newton, an independent technical analyst and financial blogger, told MarketWatch. “It is a challenging market to have any conviction, really on either side [up or down],” he said.
Newton added that the level of disgruntlement in the market is high given that the S&P 500 SPX, -0.01% has hovered around 2,140 since July (see chart below):