It is very tough to say anything new about this market, mainly because there is nothing new. It continues to plod along in lackadaisical fashion. There is no real selling, but volume is very light with only a few small pockets of momentum. It isn't bad action, but it sure isn't very exciting or dramatic.
The great temptation is to predict that things are about to change and a major move will soon occur. I wouldn't mind seeing that happen, but I see no basis for such a prediction. The market is shrugging off convenient excuses for selling and the dip buyers don't hesitate before jumping in.
The most important thing you can do now is to stay disciplined and stick with trades as long as they are working. Make your buys, set your stops and let things play out. The worst thing you can do is make wild speculative bets based on hope that market conditions are about to shift. They will shift at some point and we'll have to adjust, but the folks who keep hoping for a shift have been racking up losses for a while now.
The hardest thing to do in this market now is to stick with the trend, but that continues to be the way to go.
Have a good evening. I'll see you tomorrow.
