The push up yesterday failed right at the lows of Thursday's big wide price spread anchor bar. That bar stopped the push right in its tracks. Today it will likely try to get over that area again and if it fails, then right back down to test Monday's lows again is likely. Sometimes there really isn't a lot to do. The ranges are small and until one side breaks, the larger trade is at bay. The bulls had better hope that the break is topside as they are running out of room underneath. The bears feel as if they finally have something going here but need to press their positions and force stops to really take control.

If I step back and consider where we are and how we have gotten here with inputs both fundamental as well as technical, I would have to lean to the long side for the trade but I wouldn't stick my neck out very far and I would likely remain uncomfortable with the decision. There are times where it makes more sense to do little than a lot and now is one of those times.