S&P 500 nearly flat
Today is a microcosm of the Monday-Tuesday trade.
Monday was a big bounce following a harsh drop Friday. A day later it was gone. Today stocks rallied again after yesterday's dip but it didn't even last the day.
The S&P 500 is nearly flat today at 2129 after hitting as high as 2141.
The inability of stocks to hold or add to gains adds to the negativity in the market. The economic calendar tomorrow is flush but I just don't see how it can change the market's tune.
What I think is happening is a growing sense of skepticism about central bankers and politicians. There's also a strongly-held belief that there just isn't much upside left so it's safer on the sidelines.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.