Sometimes flat markets make for good trading as traders gravitate toward some narrow pockets of strength. There are some good opportunities for fast-moving traders.
Unfortunately, this isn't one of those markets. It is dead out there. I see only seven stocks up more than 10%, and much of the strength is in value names and financials that aren't of much interest to aggressive speculative traders. Semiconductors are one bright spot in technology, but the group is at the lows of the day after a gap up open.
The biggest problem right now continues to be the focus on inflation and how that is driving rotational action. Stock picking is totally dead as the only thing that matters is sector flows. Finding a great stock in the wrong sector is a recipe for losses.
The S&P 500 is trading at intraday lows as I write, breadth is slipping, and growth stocks like (ARKK) are back under Tuesday's lows.
Market players just don't seem to have much desire to buy right now. Many are waiting for another pullback, and many are just tired of this difficult market.