It's that time of month again, when the option players are gamed by the broker dealers and the hedge funds.
Volumes are light, and the market is range bound.
It needs to break out decisively from the area of resistance, otherwise the formation of a distribution top starts to look compelling.
"Senators disturb us by reminding us of the possibility of large numbers swarming from China; but the answer to all this is obvious and very simple. If the Chinese come here, they will come for citizenship or merely for labor. If they come for citizenship, then in this desire do they give a pledge of loyalty to our institutions; and where is the peril in such vows? They are peaceful and industrious; how can their citizenship be the occasion of solicitude?"
Senator Charles Sumner, 1870