Stocks were in a wide trading range today, as the algo held a little preliminary 'wash and rinse' ahead of the FOMC announcement on Wednesday, and the quad witch option expiration on Friday.
Have a pleasant evening.
“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