Macro vs Micro

Even when talking about any correction now, I get the sense the next downside move is viewed as the 'this is it' correction.  'The correction that pops all bubbles.'  That's leading to increased paranoia in the short term.

Intraday the action is seemingly psychotic as we rip up and down in a tight range.  We blow out stops one direction then blow them out in the other.  At the same time. the daily and weekly charts look damn near lifeless.

Amazingly some measures like standard Average True Range and Bollinger Band width show an increase in 'liveliness' after coming off relatively compressed levels.

Eventually traders are going to wear themselves out or bankrupt their accounts.  Whichever comes first!  There is no rhyme or reason to the shot term trading here other than PAIN!

A psychological key for catching the next trending move is to not wear ourselves down over this range.

After all, it's not that much of a range!

Trade 'em well