Fairly inconsequential day, except for a few intraday 'wiggles' and an end of day pop higher.
PPI and initial unemployment claims in the morning before the bell, and FOMC announcement at 12:30 in the afternoon.
“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot