augieboo: although i believe we are in a sideways (trading range) situation, its not much fun on the long side, especially the ETFs. a lot of individual stocks, otoh, are showing better relative strength, succumbing to some profit taking , so it does appear that the overall stance is bullish.
having said that, we now have two distribution days (per IBD definition), and it certainly appears that the war euphoria cannot lead us much higher. the consumer confidence looks promising, but that only supports the notion that the mkt may be fairly valued here. it is not surprising, then, that we are experiencing the choppiness. until the NDX breaks out either way (1020 low or 1100 high), trading the breakouts is riskier than trading stochastics, imho.
ek
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