Don't short a dull market. Don't short a dull market. Don't short...
This particular market clichè has some historical support. When stocks do nothing at new highs, it's more often a pause than a reversal. The S&P 500 fund, SPY, has had an intraday range less than 0.5%, with volume more than 33% below average, while exceeding its previous high, for consecutive sessions. Excluding holiday periods, SPY tended to dip in the very short-term but rally afterward. This is likely due to the looming deluge of earnings and FOMC decision, so FWIW.

