Wednesday SPY has been "opposite" day 8 of the last 9 weeks. Basically, fading the opening gap and selling gap ups OR buying gap downs at the opening print has been a winner 8 of the last 9 Wednesdays. Amazingly, 7 of the last 9, the SPY closed within +/- 0.22 of the prior day's close; the other 2 days closed up 1.19 and 1.01. So another choppy flattish day tomorrow certainly would not surprise given the current market conditions...a big move would.
Note: I'm using data from Stockcharts.com to compile the info above.
Finally, per the chart below, intraday action (i.e. buying the open and selling the close) has been trending higher since mid April, and the cumulative total since early October 2011 is now just above the 0 line.
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