Stocks Hold a Narrow Range

Stocks are continuing to maintain a very narrow range after collapsing from the 4100's, and giving up the 4K handle entirely, to reclaim the 3900's. We are currently in between 3909 and 3963, and are likely to hold this range, as the markets are still digesting the red hot CPI inflation data. If we collapse further, then there is a relative low at 3887 that will likely provide support. If we rally, then 4009 will surely provide resistance.