The Tell: The stock market is caught deep in ‘no-man’s-land’

Where is this market headed? It’s anyone’s guess.

The best description of the docile trading lately may be Mark Newton’s characterization: no man’s land.

Read: Earnings recession expected to extend to sixth straight quarter

“Everybody is sort of scratching their heads about this market,” Newton, an independent technical analyst and financial blogger, told MarketWatch. “It is a challenging market to have any conviction, really on either side [up or down],” he said.

Newton added that the level of disgruntlement in the market is high given that the S&P 500 SPX, -0.14% has hovered around 2,140 since June (see chart below):

FactSet, MarketWatch

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