Key indexes are locked in a tight range and the US stock futures are pointing to a bounce back.
The Dow Jones Industrial Average fell 208 points, or 0.61%, to 33949, the S&P 500 SPX fell 46 points, or 1.11%, to 4118, and the Nasdaq Composite COMP fell 203 points, or 1.68%, to 11911.
The S&P 500 hasn't gone above 4,200, or below 4,000 this month. Peter Garnry, head of equity strategy at Saxo Bank, said the market feels like it is in a tighter range before getting new information on which to decide whether to continue to uptrend or reverse lower. The signs are leaning towards a cyclical uptrend, but the signal-to-noise level remains low across many macro indicators.