Monday was a holiday shortened day. That usually means lighter volume and the possibility of higher volatility. In addition, we're in the last two weeks of the year and there are holidays right in the middle of these last two weeks. So we'll have holiday shortened trading for the next 5-7 trading days. Trading won't resume at normal paces until a week from Monday (January 7).
All the charts have the exact same patter. A strong pop at the opening, followed by consolidation until the last hour or so of trading. The only exception was the Russell 2000, which showed a bit more life mid-session.
Looking at the daily charts we see the following:
The SPYs are in the middle of a triangle consolidation pattern.
The QQQQs are also consolidating, but are doing so in a rectangle pattern. However, they have broken their short-term downtrend.
The Russell 200) (IWMs) have broken through their downtrend but are also consolidating.
I have no idea what to expect over the next few weeks. The moving averages are bunched up big time, indicating the market is also looking for direction.