Day traders are having their way this market and right now I don’t blame them. Do you really want to be really long or short into a three day weekend when the unemployment # prints on a day when the market is closed? Trapped much?
So this why we see the S&P rip 20 handles and next day drop about 20 handles. Flippers are having a ball and they can push stuff around. Enjoy the chop and flop.
I don’t know if the market will make any kind of substantive stand or statement until next week, so the next few days will probably exhibit more of the same.