Immaculate Compression

With every possible Christmas pun intended (hopefully L'Enfant has a birthday sense of humor), today swung back & forth, wildly at times but going nowhere at other times. This gives the appearance on the SPY cash 30-minute chart of a quasi-triangle.

SPY Cash - 30 min - Quasi Triangle or w-x-y

Not even the FOMC minutes could get things headed in the direction of a breakout. Towards the close, it looks like it wanted to break down but that needs to be watched yet. It could be that people are just backing away in front of the New Year's Eve holiday.

Of course, compression is one of the surest ways for the algos to create losses, so it may just be that Optimal Prime just needed his fill from our piggybanks. Oh, wait, we don't have those anymore - pennies not losses - because there aren't any more pennies being printed (er, or something). Yet, they still have the sense to bill us in hundredths. In case you're wondering, I actually didn't have any losses today as I saw the sideways bands early, pointed it out, and went into 'range mode' rather than 'trend' mode. But the monotony was still annoying.

Along with the great saving-grace of penny elimination, I sure hope the New Year doesn't see too many more needless inventions like the electrified roadway in FL for charging EV's, when no commercial EV's have induction coils for charging yet. Or another type of vehicle other than high-speed intercity trains that actually connect people to places they want to be. Or, like another needless social media platform - like Tic-Tock that keeps time during the market day and metronomes endlessly until the close. Or yet another outlet for someone to spout their half-baked political views.

One can only hope, as the mind turns to mush on days like today - perhaps indicating a stiff pre-NYE cocktail is needed! Indeed. Lol!

Have fun,

TraderJoe