With Friday's all-important job number looming, stocks are likely to stay in a tight range. But bulls and bears alike still have the opportunity to make money.
Equities traded with bullish momentum early Wednesday, as they prepared themselves for the gauntlet of data. Momentum late in trading was supported by the Federal Reserve's Beige Book, which showed a "moderate to modest" expansion in spending.
After holding major support at the line in the sand on Tuesday—the 1,629.25 to 1,631.25 level—the S&P closed above the 1,645 to 1,647.50 pocket. And on Wednesday, the S&P finished above the crucial 1,650 level.