The NASDAQ 100 fell a bit Monday to test the 12,250 level, an area that previously had been massive resistance.
A bit of “market memory” could come into the picture and cause a bit of noise.
The market has recently shot straight in the air, but as we are getting close to the Federal Reserve meeting, it does make sense that we would see traders exercise a bit of caution.
This is a market that I think traders are very cautious with, so getting flat makes quite a bit of sense.