Neutral Day

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A neutral day occurs approximately eight percent of the time and is characterized not by its initial balance, but by a range extension in both directions, indicating a lack of conviction regarding market direction.  This lack of conviction results in a tug-of-war between buyers and sellers over market direction, with the close generally occurring in the middle of the range.  Neutral days frequently occur in a sideways market and at market tops and bottoms.

 

See also, Spinning Tops.

 

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