S&P Pressured By Short-term Negative Momentum

S&P will have a downward bias going into the end of this week, pressured by short-term negative momentum but we expect support at 3700, or last week’s pivot low, to remain largely intact.  There is a high probability that market is in for a ‘range-bound’ trading environment.  This is a rally and retreat environment. It is not a trending environment. Short-term traders can anticipate continued volatility with rapid up and down moves in the markets