Stocks Ranging

Stocks are broadly ranging in anticipation of more news from Jackson Hole. In an environment where the only really meaningful data point that matters is Central Bank forward guidance, stocks are waiting for a better idea. Watch for stocks to maintain this range until we have more insight or the market starts to price in a decision. It did appear that we got a burst of risk on mid trading session yesterday and we came within a few ticks of 4504. The Kovach OBV is pretty strong nevertheless.