The markets are coiling and compressing as they process jarring events and political suspense, with potential energy building up for eventual release.
The stock market has been vibrating within a tight range for a month, an agitated stasis that was not disturbed last week by news of President Donald Trump’s illness or the swings in perceived likelihood of a new 13-figure fiscal support deal.
The S&P 500 has been corralled 3,200 to 3,400 for four weeks. Twice last week, overnight index futures twitched lower on headline triggers, after the presidential debate and Trump’s positive Covid test, and each time they bounced from around 3,300.
